Show ALL work 1. Bella, Inc. has estimated current year sales (in millions) for the next four quarters. Q1 $240 02 $250 Q3 $205 Q4 S350 . Sales for the 1st quarter next year are projected to be $230 . Accounts Receivable at the beginning of the year was $100. . Beginning Accounts Payable were $60. . The beginning cash balance is $50. Hoyt, Inc. cash collection schedule is as follows: 60% of sales in the current quarter, 40% in the 1st quarter after sale. Purchases from suppliers in a quarter are equal to 50% of the next quarter's forecasted sales Suppliers are normally paid in 50% in the quarter purchases are made and 50% in the following quarter. wages, taxes and other expenses are 20% of current quarter sales . . Bella, Inc. maintains a minimum cash balance of $30 Complete a cash budget for Hoyt, Inc