Wanneroo Company is preparing the annual budgets for the upcoming year 2023. Information for the last quarter of year 2022 are provided as follows: 1. Sales for December 2022 were $80,000 and sales are expected to increase by 10% each month from January 2023 onwards. All sales are made on credit terms. Customers are expected to pay for 60% of sales in the month of sale, 35% in the month following sale and the balance is considered to be bad debts. 2. 3. Gross profit is budgeted at 35% of sales. Since November 2022, it has been the policy to have a stock level at the end of each month sufficient to cover 35% of the following month's sales. All purchases will be made on credit and paid for in the month following purchase. 1. Administrative expenses are budgeted at $11,000 per month, including $1,600 for depreciation. Payments are to be made in the month in incurred. 5. 6. Selling and distribution expenses are estimated to be 11% of monthly sales value. Payments for these expenses are to be made one month later. The bank balance on 1 January 2022 is $30,220 overdrawn as bank overdraft. REQUIRED Prepare a cash budget for the company for each of the three months June 2009, July 2009 and August 2009. (15 marks)