FIN 370 Excel Assignment 3 (25 points) Use Excel to calculate the solutions to the following problems. Your worksheet will be graded on accuracy, dynamic calculations, and presentation of solutions (should be well organized with variables clearly labeled). All problems should be worked on separate tabs in the same worksheet 1. Develop a cash budget for the next 12 months using the information below. (All numbers are in thousands) Monthly sales are forecasted to be $200, $215, $175, $125, $200, $250, $300, $125, $50, $225, $275, $350. Current month's sales are $250 50% of sales are collected in the month of sale, 40% in the following month, and the remainder in next month. Monthly Purchases (COGS) are 50% of sales and with 30% paid for in the month of sales and 70% paid the following month. . .The monthly lease payment is $50 . The monthly wage expense is $20 . The cash position at the end of the current month is $25. (starting cash) The firm's target cash balance is $30