yar end. Mr Duffy, the owne, hm appreached you to as ist him in planning for the hest quater end ge on 30 lune 2016 . Mr Dufly has also provided the follswing additional informacion pertaining to the nat quarter 1. The loan from B.AO bank bears interest at 2% per month, payable monthly 2. Sales are estimated at 3125000 per month and purchases of isventsry amount to as etimuted Ras 000 per month 3. Inventory on hand at the ind of the next quarter is estimated at k3500. 4. Depreciation on fumitare and equipment is at 25\% per ashum and on vchicles at 20x per annum, based en the cost price 6. Prevision for taxation of a9a00 muit be made. 7. Manthly evenses are as folous. 8. Thefollawing other expenses wil be incurred during the net quarter: 9. Share capital censists of 50 0po skare Requiced a) Prepare the budgeted incorne statement for Buloon Pty (itd) for the nert euarter mond ing 6430 Nune 2016 b) Mr Duffy is concerned about the lowbanix balance and is uncertain as to whether he will have enoath cash avalable in his business during the neat mont. He has also asked you to calculate the estimated cash arallable at the md of the nat manth (30 Apek 2016 ). The fallowing information pertains to the collestions and payment parterns of the business Sales: If a customer pays cash, they recelve a 7,5% diceunt, otherwile, thry recove 30 days to pay. 5 W of customers buring on credit end up defautting in payments. boW of sales are oo cred t. Parments: all payments are done in cash, except for purchases of inventory, which are pad 30 diys after purchase Cash discounts received on other payments total a3 000 per month. Tacation is only payabie in Autust. c) What could mr Duffy do should he appeience a cash de icit during the nat quartne? SHOW AIT CAL CULATDONS CLEARIY, AOUND AMOUNTS TO THE NENRST RAND