Additional financial information is as follows:
Administrative salaries will approximately amount to $35,000 a month.
Lease payments around $15,000 a month.
Depreciation charges, $15,000 a month.
A one-time new plant investment in the amount of $95,000 is expected to be incurred and paid in June.
Income tax payments estimated to be around $55,000 will be due in both June and September.
And finally, miscellaneous costs are estimated to be around $10,000 a month.
Cash on hand on March 1 will be around $50,000, and a minimum cash balance of $50,000 shall be on hand at all times.
To receive full credit on this assignment, please show all work, including formulas and calculations used to arrive at the financial values.
Group Project Guidelines
As a group, prepare a monthly cash budget for Cyrus Brown Manufacturing for the 9-month period of March through November.
Use Excel to prepare the monthly cash budget.
Based on your cash budget findings, answer the following questions:
Will the company need any outside financing?
What is the minimum line of credit that CBM will need?
What do you think of CBM’s cash position during the budget period? Do you see any concerns for the company in this regard?
If you were a bank manager, would you want CBM as your client? Why or why not?
It is up to the members of the group to divide the assignment tasks evenly. You will be graded on group participation
Your submitted Group Project (150 points) must include the following:
75 Points. An Excel spreadsheet that contains your group’s monthly cash budget for Cyrus Brown Manufacturing.
75 Points. A double-spaced Word document of 1–2 pages that contains your answers to the questions listed in the Assignment Guidelines
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