You are working as a managerial accountant for a toy manufacturing company called Tiny Tots Inc. (TTI). The managers of the company have asked for you help in creating a cash budget for the next two months as they want to purchase some new equipment. The equipment will cost $80,000 and they will pay for 60% of it in May and 40% of it in June. All sales from customers are on credit and all expenses incurred by the the month they are incurred, however TI has made an agreement with their supplier that purchases for direct materials are paid for in the month after they are incurred. The selling and administrative expenses includes a monthly depreciation amount of $2,000. The company has cash balance of $28,000 on April 1. They have already prepared a schedule of cash collections and expects that collections will be $205,000 in April, $215,000 in May and $300,000 in June. Since last year the company had great financial results they declared dividends of $5,000 to be paid in. May. TI's company policy is to maintain a minimum balance of $12,000 at the end of each month. Required: Complete a cash budget for TII for the months of May and June in the template given below. If you accidentally delete the table, press "ctri" and " z " to undo and the table should reappear. If it does not just continue as it with the blank page and type your answer as clear as possible. You are working as a managerial accountant for a toy manufacturing company called Tiny Tots Inc. (TTI). The managers of the company have asked for you help in creating a cash budget for the next two months as they want to purchase some new equipment. The equipment will cost $80,000 and they will pay for 60% of it in May and 40% of it in June. All sales from customers are on credit and all expenses incurred by the the month they are incurred, however TI has made an agreement with their supplier that purchases for direct materials are paid for in the month after they are incurred. The selling and administrative expenses includes a monthly depreciation amount of $2,000. The company has cash balance of $28,000 on April 1. They have already prepared a schedule of cash collections and expects that collections will be $205,000 in April, $215,000 in May and $300,000 in June. Since last year the company had great financial results they declared dividends of $5,000 to be paid in. May. TI's company policy is to maintain a minimum balance of $12,000 at the end of each month. Required: Complete a cash budget for TII for the months of May and June in the template given below. If you accidentally delete the table, press "ctri" and " z " to undo and the table should reappear. If it does not just continue as it with the blank page and type your answer as clear as possible