(Solved): Please help and complete in the same layout/format on excel. Assumptions: The firm makes 20% of a ...

Please help and complete in the same layout/format on excel. Assumptions: The firm makes 20% of all sales for cash & collects 40% of its sales in each of the 2 months following the sale Other cash inflows are expected to be $12,000 in September and April, $15,000 in January and March, and $37,000 in February The firm pays cash for 10% of its purchases, 50% one month later and 40% after 2 months. Wages and salaries amount to 20% of the preceding month's sales Rent of $22,000 must be paid monthly Interest payments of $25,000 are due in January and April. A principal payment of $30,000 is due in April The firm expects to pay cash dividends of $20,000 in January and April Taxes of $90,000 are due in April The firm also intends to make a $25,000 cash purchase of fixed assets in December Sales and puchases by month are expected to be as follows; Prepare a cash budget for Bubba's Bikes by completing the format laid out below and incorporating the above assumptions, highlighting your answers to the following: a) Assuming that the firm has a cash balance of $22,000 at the beginning of November, determine the end-of-month cash balances for each month, November through April. b) Assuming that the firm wants to maintain a $15,000 minimum cash balance, determine the required total financing or excess cash balance for each month, November through April. c) If Bubba were going to request a line of credit at the bank to cover financing for the period November to April, how large would this line have to be?