Chapter 3 Problem 14 a Using the information provided, construct a monthly cash budget for October through December 2014. Based on your analysis, will Noble enjoy a surfeit of cash, or require external financing? Construct a pro forma income statement for the first fiscal quarter of 2015 and a pro forma balance sheet as of December 31, 2014. What is your estimated external financine needed for December 31? CDoes the December 31, 2014, estimated external financing equal your cash surplus (deficit) for this date from your cash budget? d Based on your answers above, construct a cash flow forecast for Noble for the period October through December 2014 Noble Selected Information and Financial Statements Sales (20 percent for cash, the rest on 30-day credit terms): 2014 Actual 2014 Projected July August October November December 76,000 88,000 266,000 125,000 51,000 53,000 Purchases (all on 60-day terms) 2014 Actual 2014 Projected July August September October November December 116,000 122,000 257,000 62,000 27,000 26,000 Salaries payable monthly Principal payment on debt due in December Interest due in December Dividend payable in December Taxes payable in November Addition to accumulated depreciation in December 20,000 25,700 9,000 15,000 19,000 4,000 Cash balance on October 1, 2014 Minimum desired cash balance 34,000 15,000