The current economic situation is marked by instability mainly due to various announcements regarding the imposition of customs tariffs for Canadian companies exporting products to the United States. This affects the liquidity of some companies. The Regional Bank $($RB$)$ with which your company is affiliated now requires, within a very short time, a cash budget $($liquidity budget$)$ to continue financing the company. You work for IAG, a distributor of steel beams. To perform your work well, you met with certain company managers and gathered the following information: Marketing Manager: She indicates that she expects sales to amount to $$15,000,000$ over the next year. Given the seasonal nature of operations, monthly sales are distributed as follows: January, February, July, August, September, October $5\%$ per month March, May, June, November $10\%$ per month April and December $15\%$ per month She also mentions that the average gross margin is $30\%($cost of goods sold $=70\%),$ and the average selling price of a beam is $$250.$ Warehouse Manager: Since sales are not regular every month, it has been customary to maintain an inventory equal to $1\mathrm{.}4$ times the necessary quantity to meet the following month$$s forecasted sales. Accounting: The accounts receivable clerk tells you that: $80\%$ of sales are collected during the month following the sale. $20\%$ are collected two months after the sale. The number of suppliers of beams is limited$,$ and payment conditions are very strict: All purchases of goods must be paid the month after purchase. However, the company benefits from a permanent $2\%$ discount on its purchases. Other expenses amount to $$900,000$ per month. To simplify calculations, you must assume that all disbursements related to these other expenses occur in the current month $($i$.$e$.,$ January charges are paid in January$)$ Shipping Manager To be able to handle the growth in sales, AIG will have to acquire in June three $(3)$ new trucks worth $$100,000$ each. These trucks will be depreciated over $5$ years, which will increase the depreciation expense by $$5,000$ per month, something that was not planned until now. No financing method is planned at the moment. In addition, one of the current trucks, which no longer meets the company's needs, will be sold in July for $$15,000.$ This sale will generate an accounting gain of $$7,500.$ Work to do: For the months of May, June, and July: Prepare the cash receipts budget related to sales. Prepare the purchases budget as well as the cash disbursements related to purchases. Prepare the cash budget by clearly indicating each element and the details of the calculations allowing you to obtain the different amounts. $($Do not take into account interests and long$-$term debt repayments.$)$ Present to the bank the cash needs or surpluses for each of the three months, considering that the bank balance on April $30$ is zero. Briefly discuss the liquidity situation of AIG.