Ellena Furniture has projected sales of its product for the next six months as follows. January 100units February 125 units March 180 units April 170 units May 150 units June 130 units The product sells for $25 each. Cash sales accounted for 40 % of sales. Collections on account (non-cash sales charged to accounts receivable) are received 75% in the month of the sale and 25% in the following month. All expenses and purchases are paid for in the same month they are incurred as follows: Operating expenses are expected to be $2,000 each month. Purchases are expected to be 15% of the expected sales each month. Required: a. Prepare a schedule of expected cash collections for the second quarter. (10 marks) b. Prepare a cash Budget for the second quarter, assuming that Ellena ended the first quarter with a cash balance of $2800. (15 marks)