1. Use the exhibits in the Excel file to prepare a six-month budget. Use the blanks tab in the Excel file to prepare:
   1. Sales budget
   2. Production budget (note: ending inventory should be 300 units + 20% of next months sales)
   3. Purchases budget
   4. Cash budget (note the collections pattern for sales is provided and accounts payable is paid the following month Exhibit 7 provides beginning accounts payable balances). The company wants to maintain a $100,000 cash balance, so you may need to borrow to maintain the desired balance.