QUICK QUESTION . WILL THUMBS UP IF DONE CORRECT. IVE POSTED FIVE TIMES AND IT HASNT BEEN DONE ONCE. PLEASE ANSWER 10.2-10.10. IF YOU DONT KNOW HOW OR NEED MORE INFO PLEASE ASK A QUESTION DONT ANSWER WITH RANDOMNESS PLEASE

1 See The Light Projected Income Statement For the Period Ending December 31, 20x1 25,000 lamps@ $45.00 $30.00 $23,000.00 (Commission per unit) $3.00 75,000.00 $ 98,000.00 $42,000.00 @$2.00 50,000.00 92.000.00 Sales Cost of Goods Sold Gross Profit Selling Expenses: Fixed Variable Administrative Expenses: Fixed Variable Total Selling and Administrative Expenses Net Profit Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity Fixed Assets I See The Light Projected Balance Sheet As of December 31, 20x1 500 $16.00 0 3000 $30.00 $ 20,000.00 6,800.00 $ 12,000.00 147.410.00 $1,125.000.00 750,000.00 $375,000.00 190,000.00 $185.000.00 S 34,710.00 67.500.00 8,000.00 90,000.00 $200.210.00 13,200.00 $ 213,410.00 $ 54,000.00 $ 54,000.00 159,410.00 $213,410.00 30 37 8 Cash Budget 38 39 Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and 40 Payables of 12/31/x1 will have a cash impact in 20x2.) 41 48 1. 15.00% of sales for the year are made in November and December. Since our customers have 60 day terms 49 those funds will be collected be collected in January and February. 50 2 88.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February. 51 3. All other manufacturing and operating costs are paid for when incurred. 52 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 59 5. Minimum Cash Balance needed for 20x2, $160,000. 60 61 I See The Light Projected Cash Budget 62 For the Year Ending December 31, 20x2 63 Round dollars to two places, $#### 70 Beginning Cash Balance $ 34,710.000 71 Cash Inflows: 72 Sales Collections: 73 Account Receivable (Sales last year not collected) 74 Sales made and collected in 20x2 31 Cash Available 82 83 Cash Outflows: 34 Purchases 35 Accounts Payable (Purchases last year) 92 Purchases made and paid for in 20x2 03 Other Manufacturing Costs 94 Direct Labor 95 Total Manufacturing Overhead 96 Selling and Administrative Less: Depreciation Total Cash Outflows Budgeted Cash Balance before financing Needed Minimum Balance Amount to be borrowed (if any) Budgeted Cash Balance 03 04 05 06 07 08 09 10 11 12345 160,000.000 (10.02) (10.03) (10,04) (10.05) (10.06) (10.07) (10.08) (10.09) (10.10) 1 See The Light Projected Income Statement For the Period Ending December 31, 20x1 25,000 lamps@ $45.00 $30.00 $23,000.00 (Commission per unit) $3.00 75,000.00 $ 98,000.00 $42,000.00 @$2.00 50,000.00 92.000.00 Sales Cost of Goods Sold Gross Profit Selling Expenses: Fixed Variable Administrative Expenses: Fixed Variable Total Selling and Administrative Expenses Net Profit Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity Fixed Assets I See The Light Projected Balance Sheet As of December 31, 20x1 500 $16.00 0 3000 $30.00 $ 20,000.00 6,800.00 $ 12,000.00 147.410.00 $1,125.000.00 750,000.00 $375,000.00 190,000.00 $185.000.00 S 34,710.00 67.500.00 8,000.00 90,000.00 $200.210.00 13,200.00 $ 213,410.00 $ 54,000.00 $ 54,000.00 159,410.00 $213,410.00 30 37 8 Cash Budget 38 39 Assume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and 40 Payables of 12/31/x1 will have a cash impact in 20x2.) 41 48 1. 15.00% of sales for the year are made in November and December. Since our customers have 60 day terms 49 those funds will be collected be collected in January and February. 50 2 88.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February. 51 3. All other manufacturing and operating costs are paid for when incurred. 52 4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses. 59 5. Minimum Cash Balance needed for 20x2, $160,000. 60 61 I See The Light Projected Cash Budget 62 For the Year Ending December 31, 20x2 63 Round dollars to two places, $#### 70 Beginning Cash Balance $ 34,710.000 71 Cash Inflows: 72 Sales Collections: 73 Account Receivable (Sales last year not collected) 74 Sales made and collected in 20x2 31 Cash Available 82 83 Cash Outflows: 34 Purchases 35 Accounts Payable (Purchases last year) 92 Purchases made and paid for in 20x2 03 Other Manufacturing Costs 94 Direct Labor 95 Total Manufacturing Overhead 96 Selling and Administrative Less: Depreciation Total Cash Outflows Budgeted Cash Balance before financing Needed Minimum Balance Amount to be borrowed (if any) Budgeted Cash Balance 03 04 05 06 07 08 09 10 11 12345 160,000.000 (10.02) (10.03) (10,04) (10.05) (10.06) (10.07) (10.08) (10.09) (10.10)