(1.5 points) This coming year will be the first year of operations for the Eldercare Center, which provides day care services for the elderly. It has a capacity of 40 and charges each client $400 per month for its services. The center has the following annual costs: Eldercare Center Annual Costs Annual Cost Dollar Amount Executive Director $45,000 Nurse $40,000 Social Worker $35,000 Aides $15,000 per aid Supplies $600 per client per year Rent $15,000 The executive director, nurse, social worker, and rent are all fixed costs for the center. That means that they stay the same regardless of the number of clients. Supplies vary with the number of clients. The center needs one aide for every 20 clients. A. Assume the center is full for the entire year. Prepare an operating budget of revenues and expenses. B. Assume rent and employees are paid every month. However the center pays for supplies two months after they are purchased. Revenues are received one month after services are provided. The center starts the year with a $5,000 cash balance, and the board has decided that the center should no borrow any money. Prepare a quarterly cash budget. C. How does the cash budget help the executive director in planning for the first year of operations? Is the operating budget sufficient? (1.5 points) This coming year will be the first year of operations for the Eldercare Center, which provides day care services for the elderly. It has a capacity of 40 and charges each client $400 per month for its services. The center has the following annual costs: Eldercare Center Annual Costs Annual Cost Dollar Amount Executive Director $45,000 Nurse $40,000 Social Worker $35,000 Aides $15,000 per aid Supplies $600 per client per year Rent $15,000 The executive director, nurse, social worker, and rent are all fixed costs for the center. That means that they stay the same regardless of the number of clients. Supplies vary with the number of clients. The center needs one aide for every 20 clients. A. Assume the center is full for the entire year. Prepare an operating budget of revenues and expenses. B. Assume rent and employees are paid every month. However the center pays for supplies two months after they are purchased. Revenues are received one month after services are provided. The center starts the year with a $5,000 cash balance, and the board has decided that the center should no borrow any money. Prepare a quarterly cash budget. C. How does the cash budget help the executive director in planning for the first year of operations? Is the operating budget sufficient