Stratus Ltd. is in the process of preparing its budgets for the period October 2022 to December 2022. The following information is provided to assist in the budgeting process: 1. Budgeted monthly sales revenue is as follows: August 90,000 September 100,000 October 120,000 November 160,000 December 140,000 Sales are 20% cash and 80% credit. Credit sales are collected over a two-month period. 40% in the month following sale and 60% in the month after that. Sales in January 2023 are expected to be 190,000 2. Cost of sales is expected to amount to 65% of sales revenue each month 3. Closing inventory levels are held at 50% of the following month's sales revenue. Inventory at the beginning of October is expected to amount to 60,000 4.85% of inventory purchased is paid for in the month of purchase. The remaining 15% is paid for in the month following purchase. Trade payables are 25.000 at 1st October 5. Stratus Ltd. plans to apply for a government grant of 32.000 and it is expected this grant will be received in two equal amounts in November and December. The application for this grant will cost 1,500 which will be paid in October. 6. A van is expected to be sold in December for 15.000. Immediately prior to the sale. Stratus Ltd. expects to spend 1,750 on repairs and maintenance in order to ensure the van will be in a workable condition 7. Equipment costing 17,250 will be purchased and paid for in November. It will be depreciated on a straight line basis over five years. 8. Operating expenses for October are estimated at 12,000 and will increase by 10% per month, thereafter. These expenses will be paid as incurred 9. The cash balance on 1st October is expected to amount to 104.000. You are required to: a. Calculate the purchases figure for each month from October 2022 to December 2022. b. Prepare a cash budget on a monthly basis and in total for the period October 2022 to December 2022. C. Outline any three potential benefits from the preparation of a cash budget as prepared in part (6)