Start with the partial model in the file Ch$21$ P$18$ Build a Model.xlsx on the textbook$$s Web site. Rusty Spears, CEO of Rusty$$s Renovations, a custom building and repair company, is preparing documentation for a line of credit request from his commercial banker. Among the required documents is a detailed sales forecast for parts of $2022$ and $2023$: $\backslash$table$[[,$Sales,Labor and Raw Materials$],[$May $2022,$$$60,000,$$$75,000],[$June$,100,000,90,000],[$July$,130,000,95,000],[$August$,120,000,70,000],[$September$,100,000,60,000],[$October$,80,000,50,000],[$November$,60,000,20,000],[$December$,40,000,20,000],[$January $2023,30,000,$NA$]]$

$\backslash$table$[[,$Sales,Labor and Raw Materials$],[$May $2022,$$$60,000,$$$75,000],[$June$,100,000,90,000],[$July$,130,000,95,000],[$August$,120,000,70,000],[$September$,100,000,60,000],[$October$,80,000,50,000],[$November$,60,000,20,000],[$December$,40,000,20,000],[$January $2023,30,000,$NA$]]$

Estimates obtained from the credit and collection department are as follows: collections within the month of sale, $15\%$; collections during the month following the sale, $65\%$; collections the second month following the sale, $20\%.$ Payments for labor and raw materials are typically made during the month following the one in which these costs were incurred. Total costs for labor and raw materials are estimated for each month as shown in the table.

General and administrative salaries will amount to approximately $$15,000$ a month; lease payments under long$-$term lease contracts will be $$5,000$ a month; depreciation charges will be $$7,500$ a month; miscellaneous expenses will be $$2,000$ a month; income tax payments of $$25,000$ will be due in both September and December; and a progress payment of $$80,000$ on a new office suite must be paid in October. Cash on hand on July $1$ will amount to $$60,000,$ and a minimum cash balance of $$40,000$ will be maintained throughout the cash budget period.

Using the data fill in this excel template