This assignment will require you to prepare the cash budget and determine the cash inflows, cash outflows, and the expected change in cash each month. The finance manager wants to prepare a cash budget for Year 2022. The finance manager has received the following information from the marketing and operations managers: The sales in December 2021 were $250,000. The sales are expected to grow by 1.5% each month. The sales will be collected as follows: a. 50% immediately in the same month b. 40% in the next month c. Balance 10% is not collected Labor and Raw Material is 60% of the sales of the same month. Labor and Raw Material is paid in the same month. o Wages and Salaries are $40,000 each month and paid in the same month. 0 Depreciation expense is $5,000 each month. 0 The company pays taxes of $45,000 in the month of April. 0 The company is expected to incur a purchase of machinery worth $275,000 in September 2022. It is expected to pay for machinery in the same month. 0 The company pays rent of $10,000 quarterly (in March, June, September, and December each year). 0 The company makes coupon interest payments of $120,000 (in June and December each yea r). Questions: [30 points] 1. Determine the total cash inflows for each month of Year 2022. Show your work in Excel. [30 points] 2. Determine the total cash outflows for each month of Year 2022. Show your work in Excel. [ 5 points] 3. Determine the expected change in cash for each month of Year 2022. Show your work in Excel. [20 points] 4. Assume that the beginning balance in January 2022 is $20,000 and the target cash balance each month is $10,000. Determine the excess cash or loan needed for each month of Year 2022. Show your work in Excel. [15 points] 5. Describe in your own words some of the short-term borrowing options that the company may adopt. Please write your answer in another tab on the same excel file, no need to upload another Word Document le