WinBikes Pty Ltd has prepared the Cash Budget for January 2022, shown below:

(the business has cash balance as at 31 December 2021 is $25,000):

WinBikes Pty Ltd
Cash Budget
For January 2022
Expected Cash Receipts	$
Cash Receipts from Accounts Receivable	192,500
Cash Sales	562,500
Interest Income
Total Expected Cash Receipts	755,000
Expected Cash Payments
Salaries and Wages	250,000
Administration	50,000
Purchases - Bikes	450,000
Purchases - parts	10,000
Renovation Cost	200,000
Total Expected Cash Payments	960,000
Excess (Deficit) receipts over payments	?
Cash balance (Opening Balance)	$25,000
Cash balance (Closing Balance)	?

a) Calculate the two missing figures for the cash budget above, you can use the following template to show the workings:

	Workings
Excess (Deficit) receipts over payments
Cash balance (Closing Balance)

b ) Make two (3) suggestions dealing with the cash situation that may help WinBikes Pty Ltd to improve their cash position.