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

New Tech Oct Nov Dec Sales (Prior Year) 325 325 325 Purchases 59.2 Payment Schedule Cash Sales 10% 30 day payment 70% 60 day payment 20% Purchase Schedule Paid first 30 days 40% Paid second 60 days 60% Jan Feb May Jun Jul Aug Sep Oct Nov Dec Apr Sales 325 300 275 325 350 375 400 375 350 300 275 250 Purchases 59 59.2 59.2 59.2 59.2 59.2 59.2 59.2 59.2 59.2 59.2 59.2 Disbursements Freight in 4.2 5.1 5.4 7.3 6.5 6.7 6.6 6.1 5.8 5.7 Labor 40 39 38 42 38.4 44.3 42.5 41 38 39 39.5 38 Utilities 2.5 2.2 2.4 2.5 2.5 2.8 2.7 2.5 2.6 2.6 2.6 2.4 Salaries (Sales) 60 62 65.8 62.8 62.7 67.9 71.6 62.8 64.9 66.9 68 65 Commissions 5.9 5.8 6.8 6.9 7.4 7.8 6.5 6.8 6.4 6.4 Travel 7.1 6.9 6.8 7.6 7.8 8.4 7.5 7.7 7.7 7.9 7.4 Advertising 6.5 8.5 8.7 8.3 S.1 7.2 7.5 Other charges 40 50 21.5 18.3 18.7 18.9 16 8.5 14 Selling Salaries (Admin) 35 35 34 33 36 36 38 39 35 33 32 34 Leasing 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 5.8 3.8 5.8 3.8