Question 3 26 marks must show your calculations and present your work neatly and in a suitable format (21 marks). Comment briefly on your findings (5 marks). Noa Ltd is starting a new business on 1 February. The owners will put 150,000 into the business bank account on February and the company will take out a bank loan of 70,000 the same day. In February the company will buy non- current assets for 185,000. Sales are expected to be 160,000 in February, 190,000 in March and 180,000 in April. 50% of customers will pay in the month of sale and 50% in the following month. Purchases cost 75% of the sales value and are bought and paid for in the month of sale. Administrative expenses will be 9,000 a month. Marketing expenses will be 15,000 in February and 10,000 in April. Rent will be 24,000 a year, payable quarterly in advance starting on 1 February Complete your answers in the table on the next page. You may continue onto another page if you need to You are recommended to show your workings in the space below February March April Receipts Net cash flow Balance bad