Using a spreadsheet, prepare a cash budget for New Tech for the next year (January through December) based on the following information.

October November December 325.0 325.0 325.0 59.2 Sales revenue (previous year) Purchases PAYMENT SCHEDULE Cash sales = 10% 30-day payment = 70% 60-day payment = 20% PURCHASE SCHEDULE Paid in first month = 40% Paid during second 60 days = 60% Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. 375 Sales revenue Purchases 325 59.0 300 59.2 275 59.2 325 59.2 350 59.2 400 59.2 375 59.2 350 59.2 59.2 300 59.2 275 59.2 250 59.2 Disbursements 4.2 40.0 2.5 4.0 39.0 2.2 5.1 38.0 2.4 5.4 42.0 2.5 7.3 38.4 2.5 6.5 44.3 2.8 6.7 42.5 2.7 6.6 41.0 2.5 6.1 38.0 2.6 7.0 39.0 2.6 5.8 39.5 2.6 5.7 38.0 2.4 Freight in Labor Utilities, insurance, etc. Salaries-selling Commissions Travel Advertising Other charges- 60.0 5.9 7.0 6.0 5.0 62.0 5.0 7.1 6.5 6.0 65.8 5.8 6.9 7.0 3.0 62.8 6.8 6.8 9.0 40.0 62.7 6.9 7.6 8.5 50.0 67.9 7.4 7.8 8.7 21.5 71.6 8.0 8.4 8.3 18.3 62.8 7.8 7.5 8.1 18.7 64.9 6.5 7.7 7.0 18.9 66.9 6.8 7.7 7.2 16.0 68.0 6.4 7.9 6.0 8.5 65.0 6.4 7.4 7.5 14.0 (Continued) (Continued) Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. Selling Salaries 35.0 35.0 34.0 33.0 36.0 36.0 38.0 39.0 35.0 33.0 32.0 34.0 administration Leasing 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 Research and 8.3 10.3 15.6 7.5 7.7 6.2 6.7 6.3 8.3 development Taxes 9.3 9.3 9.3 9.3 9.3 9.3 9.3 9.3 9.3 9.3 9.3 Purchase of assets 40.0 45.0 33.0 350.0 500.0 16.8 23.8 23.0 18.0 20.0 20.0 10.0 5.8 7.9 8.3 6.9 9.3 October November December 325.0 325.0 325.0 59.2 Sales revenue (previous year) Purchases PAYMENT SCHEDULE Cash sales = 10% 30-day payment = 70% 60-day payment = 20% PURCHASE SCHEDULE Paid in first month = 40% Paid during second 60 days = 60% Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. 375 Sales revenue Purchases 325 59.0 300 59.2 275 59.2 325 59.2 350 59.2 400 59.2 375 59.2 350 59.2 59.2 300 59.2 275 59.2 250 59.2 Disbursements 4.2 40.0 2.5 4.0 39.0 2.2 5.1 38.0 2.4 5.4 42.0 2.5 7.3 38.4 2.5 6.5 44.3 2.8 6.7 42.5 2.7 6.6 41.0 2.5 6.1 38.0 2.6 7.0 39.0 2.6 5.8 39.5 2.6 5.7 38.0 2.4 Freight in Labor Utilities, insurance, etc. Salaries-selling Commissions Travel Advertising Other charges- 60.0 5.9 7.0 6.0 5.0 62.0 5.0 7.1 6.5 6.0 65.8 5.8 6.9 7.0 3.0 62.8 6.8 6.8 9.0 40.0 62.7 6.9 7.6 8.5 50.0 67.9 7.4 7.8 8.7 21.5 71.6 8.0 8.4 8.3 18.3 62.8 7.8 7.5 8.1 18.7 64.9 6.5 7.7 7.0 18.9 66.9 6.8 7.7 7.2 16.0 68.0 6.4 7.9 6.0 8.5 65.0 6.4 7.4 7.5 14.0 (Continued) (Continued) Jan. Feb. March April May June July Aug. Sept. Oct. Nov. Dec. Selling Salaries 35.0 35.0 34.0 33.0 36.0 36.0 38.0 39.0 35.0 33.0 32.0 34.0 administration Leasing 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 Research and 8.3 10.3 15.6 7.5 7.7 6.2 6.7 6.3 8.3 development Taxes 9.3 9.3 9.3 9.3 9.3 9.3 9.3 9.3 9.3 9.3 9.3 Purchase of assets 40.0 45.0 33.0 350.0 500.0 16.8 23.8 23.0 18.0 20.0 20.0 10.0 5.8 7.9 8.3 6.9 9.3