CASE 2 (20 points) Here are the relevant estimates for the budget preparation of Marvel Corporation for the fourth quarter of 2022: Credit sales October November December 1 428 896 1 661 520 1227 856 857 338 996 979 736 714 Credit purchases Cash disbursements: Wages, taxes, and expenses 390 432 443 094 377 608 Interest 33 488 33 488 33 488 Equipment 0 177 968 107 856 Credit sales collections: Collected in month of sale 36% Collected month after sale 62% Never collected 2% September credit sales 1271 222 September credit purchases 762 733 Beginning cash balance 574 653 Instructions: 2.1 Explain the role of cash budget. (5 points) 2.2 Using the above information, complete the following cash budget. (15 points) Assume that all credit purchases are paid one month after the purchase. eu Business School Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Payments for purchases Wages, taxes, and other expenses Interest and dividend payments Capital expenditures Total cash disbursements Ending cash balance October November December