Using the newly added sheet, prepare a projected 2022 monthly cash budget for Flagstaff Inc. by filling in the blank cells with the shaded background. All changes should be completed within Google Sheets (do not download). All data should be entered using formulas that cell reference data from within the sheet. Any cells with data manually entered or not linked will receive zero points. (28 points)

Once the cash budget sheet that was created in Step 2 is complete, make a duplicate and rename FY20 Revised Cash Budget. Given the poor financial performance from 2020 to 2021 which resulted in an average uncollectible rate of 16.1%, management believes it can make the following changes:

Increase cash sales from 1% to 15%.

Triple the percentage of customers that pay during the month after the sale.

Increase the percentage of customers that pay during the second month after the sale from 7.5% to 35%

Lower the percentage of customers that pay during the third month after the sale from 64.9% down to 25%.

Reduce the desired level of cash (target cash balance) from $100 million to $50 million

Flagstarf Inc. Projected Monthly Cash Budget (data in millions of dollars)