Construct a complete cash budget for january, including borrowing or repayment on the bank line of credit. Assume the company can borrow on the first day of the month and will repay on the last day of the month, using the information below.

*** December 31, 2021 Balance Sheet ASSETS LIABILITIES AND EQUITY Cash $76,000 Accounts Payable $100,000 Accounts Receivable, net 2,170,000 Salary Payable 420,000 Inventories *** Interest Payable 56,667 Finished Goods 690,000 Bank Line of Credit (6%) 1.000.000 Raw Materials 80,000 770.000 Current Assets 3,016,000 Current Liabilities 1,576.667 Term Debt (10%) 850.000 Fixed Assets, net of accumulated depreciation 925,000 Total Liabilities 2,426,667 Common Stock 400.000 Retained Earnings 1.114,333 Total Equity 1,514.333 Total Assets $3,941,000 Total Liabilities & Equity $3,941,000 * Inventory Finished Goods represents 30.000 units of finished goods at a cost of $23 per unit, Raw materials for 20.000 units at $4.00 per units, Work-in process inventory is zero at December 31. The company is now in the process of finishing its projections for the year ended December 2022. Historical sales for the last quarter as well as sales projections for the next thirteen months are shown below: Month Units Sold and Sales Price October 2021 (Actual) (70,000 units at $25.00 each) November 2021 (Actual) (70,000 units at $25.00 each) December 2021 (Actual) (70,000 units at $25.00 each) January, 2022 (78.000 units at $50.00 each) February (83,000 units at $50.00 each) March (86,000 units at $50.00 each) April (91,000 units at $50.00 each) May (93,000 units at $50.00 each) June (100,000 units at $50.00 each) July (101,000 units at 550.00 each) August (103,000 units at $50.00 each) September (105,000 units at $50.00 each) October (107,000 units at $50.00 each) November (109.000 units at $50.00 each) December (110,000 units at $50.00 each) Expected Monthly sales after December 2022 (115,000 units at $50.00 each) *** December 31, 2021 Balance Sheet ASSETS LIABILITIES AND EQUITY Cash $76,000 Accounts Payable $100,000 Accounts Receivable, net 2,170,000 Salary Payable 420,000 Inventories *** Interest Payable 56,667 Finished Goods 690,000 Bank Line of Credit (6%) 1.000.000 Raw Materials 80,000 770.000 Current Assets 3,016,000 Current Liabilities 1,576.667 Term Debt (10%) 850.000 Fixed Assets, net of accumulated depreciation 925,000 Total Liabilities 2,426,667 Common Stock 400.000 Retained Earnings 1.114,333 Total Equity 1,514.333 Total Assets $3,941,000 Total Liabilities & Equity $3,941,000 * Inventory Finished Goods represents 30.000 units of finished goods at a cost of $23 per unit, Raw materials for 20.000 units at $4.00 per units, Work-in process inventory is zero at December 31. The company is now in the process of finishing its projections for the year ended December 2022. Historical sales for the last quarter as well as sales projections for the next thirteen months are shown below: Month Units Sold and Sales Price October 2021 (Actual) (70,000 units at $25.00 each) November 2021 (Actual) (70,000 units at $25.00 each) December 2021 (Actual) (70,000 units at $25.00 each) January, 2022 (78.000 units at $50.00 each) February (83,000 units at $50.00 each) March (86,000 units at $50.00 each) April (91,000 units at $50.00 each) May (93,000 units at $50.00 each) June (100,000 units at $50.00 each) July (101,000 units at 550.00 each) August (103,000 units at $50.00 each) September (105,000 units at $50.00 each) October (107,000 units at $50.00 each) November (109.000 units at $50.00 each) December (110,000 units at $50.00 each) Expected Monthly sales after December 2022 (115,000 units at $50.00 each)