Task 1 - cashflow:

Prepare

a cash flow forecast in a tabular form with reference to the following information:

Contract Sum: $$6,587,400 (excl GST)

Contract Period -12 months

Defects Liability Period - 12 months

Retention: 10% from each interim payment (5% maximum of the contract sum)

Half released at the practical completion

Other half released at the end of defects liability period

An advanced payment of 10% of contract sum is paid on two installments as follows:

5% at the beginning of the project 5% at the end of third month

Advance payment is recovered (deducted) as follows: 6th month: $213, 210

8th month: $221, 650 10th month: $ 223, 880

provide the 10 steps