Attached PDF has the full assignment but I only need the first year of the cash budget (cash budget needs to be in months). At the bottom of the PDF is the check figure for year 1, if it doesn't equal that then it's wrong. If you know what you're doing, should take 30 minutes at most, thanks.

Assignment:

1. Complete 3 years of the following statements needed for a business plan:

2. MONTHLY Cash Budgets

Spreadsheet Assignment #2 Make sure cash budget is done by each month by dividing quarters by 3! Assignment: 1. Complete 3 years of the following statements needed for a business plan: 2. MONTHLY Cash Budgets 3. Year-End Income Statements 4. Year-End Balance Sheets Sales Forecast 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Yearly Totals Year 1 $45,000.00 $60,000.00 $90,000.00 $105,000.00 $300,000.00 Year 2 $110,000.00 $120,000.00 $130,000.00 $140,000.00 $500,000.00 Year 3 $155,000.00 $180,000.00 $200,000.00 $215,000.00 $750,000.00 Variable Expenses: 1. Cost of Goods Sold = 65% of sales. 2. Salaries and Wages= $36,000 in Yr. 1 and $49,520 in Years 2 and 3. Expense evenly throughout the year. 3. Employee Related Expenses = 20% of Wages and Salaries. 4. Bank Charges = 5% on one third of their sales (i.e. 1/3 of their customers purchase goods with a credit card). Rent Phone Utilities Insurance Advertising Office Supplies Repairs & Maint. Professional Services $1,000.00 $250.00 $266.67 $333.33 $375.00 $20.00 $50.00 $40.00 Other Assumptions: 1. Depreciate all assets straight-line over 5 years. 1 2. Accounts Receivable: 2 of sales are on credit with net 30 day terms. 1 3. 4. 5. 6. 7. Accounts Payable: 2 of their purchases are on credit, payable in 10 days. Equity Investment = $15,000 in equipment (computer and office equipment). Initial loan of $35,000 @ 10% interest over 4 years with monthly payments. Asset purchases to begin operations = $8,500. They must put $2,000 down for APS utility deposit (consider as a prepaid expense). This amount will be returned at the beginning of Year 2. 8. They also must prepay the first and last month's rent. The last month's rent could also be considered a prepaid expense which will carry on their books over the three years. 9. This is a sole proprietor so you need not worry about business taxation. 10. Inventory on hand will be $10,000. This level will be maintained over time. Check Figures Year 1 surplus cash $17,919 Year 2 surplus cash $83,920 Year 3 surplus cash $226,032