Quarterly cash dividends are planned, Financial Accounting

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Given the information that follows, draw a cash budget for the XYZ Store for the first six months of 2012.

Every prices and costs remain constant.
Sales are 80% for credit and 20% for cash.
With respect to credit sales, 55% are collected in the month after the sale, 30% in the second month, and 15% in the third. Bad-debt losses are insignificant.
Sales, actual and estimated, are:

October 2011	$300,000	March 2012	$200,000
November 2011	450,000	April 2012	350,000
December 2011	400,000	May 2012	280,000
January 2012	200,000	June 2012	220,000
February 2012	250,000	July 2012	320,000

Payments for purchases of merchandise are 90% of the following month's anticipated sales.
Wages and salaries are:

January 2012	$40,000	April 2012	$50,000
February 2012	45,000	May 2012	45,000
March 2012	55,000	June 2012	55,000

Rent is $5,000 a month.
Interest of $8,500 is due on the last day of every calendar quarter, and no quarterly cash dividends are planned.
A tax prepayment of $60,000 for 2012 income is due in April.
A capital investment of $60,000 is planned in June, to be paid for then.
The company has a cash balance of $90,000 at December 31, 2011, which is the minimum desired level for cash. Funds can be borrowed in multiples of $5,000. (Ignore interest on this type of borrowings.)

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