19 Jul 12 hrs……  Review the Cash Budgeting Scenario.Calculate the

12 hrs……  Review the Cash Budgeting Scenario.Calculate the cash budget using the Cash Budget Worksheet, and usethe Cash Budget Worksheet Answers to review your work.Write a 700- to 1,050-word financial plan in which you complete thefollowing:Write a 700- to 1,050-word financial plan in which you complete thefollowing:• Discuss potential cash budget benefits and pitfalls for the business,including how the budget supports the strategic goal of the business toincrease revenue by 10% annually.• Outline your expected business expenses (e.g. fixed and variablecosts, marketing, labor, operations, insurance) and sources of revenue(e.g. funding, sales of products/services).• Include an income statement, balance sheet, and cash flowstatement.• Explain how you will adjust your small business cash budget tomanage contingencies (such as emergencies and market shifts) as wellas product and distribution shifts.• Compare the differences between a cash budget and an operatingbudget, and explain why both are beneficial.• Explain why a budget variance analysis is crucial for the operation ofa business, and discuss how often a budget variance analysis shouldbe performed.