You are working as a trainee management accountant at Celestine Ltd, and your line manager has made the following budgeted information available to you. Month January February March Budgeted Purchases Wages Fixed Variable costs costs 44,000 30,800 8,000 8,500 4,400 46,000 31,500 8,000 4,600 45,000 33,600 8,600 4,500 48,000 33,900 9,000 8,500 4,800 48,500 34,200 9,200 4,850 50,000 35,000 9.200 5,000 April May une The following additional information is available: i. 55% of each month sales are expected to be for cash. Credit customers pays a month in arrears. ii. Suppliers offer 1 month credit on purchases and are paid on time. iii. Wages, fixed costs (quarterly rent) and variable costs paid in the month they are incurred. iv. The bank balance as at 1 March 2020 is expected to be 2,100. Required: a) Prepare a cash budget for the three months ending 31 May 2020. (16 marks) b) Comment on the position of the cash budget as prepared. (4 marks) c) Advice hy suggesting to management ways to improve the cash nosition of the comnany 1400 words maximum