You are the project manager for NewGen Inc., a company that specialises in the design and production of sports watches (long-distance running watches). Your current project involves the manufacturing and distribution of these watches for a major sporting goods manufacturing company in KwaZulu-Natal. The following information is available: The client pays four separate monthly payments of $675 000, one month after invoice. You employ labour at $165 000 per month, paid in the month You buy materials at $60 000 per month; the supplier gives one month's credit. You hire equipment at $35 500 per month; payment is required one month in advance.

Use the information provided and comprehensive a project cash flow statement for NewGen Inc for income and payments during a four-month project from July to October (you need to apply the timing of income and payments to the project cash flow).