We really need to get this new material bandling equpment in operation just after the new year begins. I hope we can finance it fargely with cash and marketable secuities, but it necessary we can get a short-term losn down at MetroBankThis statement by Beth Daves.Lowry, president of intercosstal Electronics Company, concluded a meeting she had called with the firm's top management. Intercoastal is a small, rapidly growing wholesaler of consumer electronic products. The firm's main product lines are small kitchen appliances and power tools. Marcis Polosky, Intercoustal's General Manager of Marketing, has recenty completed a sales forecast. She belleves the compary's sales during the first quarter of 20x wit! increase by 10 percent each month over the previous montir's sales, Then Polosky expects sales to remain constant for several months Intercoastal's projected balance sheet as of December 31,200, is as follows Joaquin Ratael, the assistant controller, is now preparing a monthly budget for the first quarter of 201 In the peocess, the following information has been accumulated: 1. Projected sales for December of 200 are $600,000 Ciedit sales typically are 60 percent of total sales intercoastal's credit experience indicates that 30 percem of the credin sales are colected during the month of sale, and the rentainder are collected diring the following month 2 intercoastal's cost of goods sold generally runs at 70 percent of sales. inventory is purchased on account, and 50 percent of each month's purchases are paid duting the month of purchase. The remander is pand during the following month. In order to have adequate stocks of inventory on hand, the firm attempts to have inventory at the end of each month equal to has of the next month's projected cost of poods sold. 3. Ratael has estimated that intercoastal's other monthily expenses will be as follow