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Transcription of this question: 2.Tasty Cupcake (TC)Luis and José have set up a partnership, baking and selling cupcakes directly to consumers andsupermarkets. They called the business Tasty Cupcake (TC). They used their savings of $3000as starting capital. The partners need an overdraft agreement from the local bank. The bankmanager asked for a cash-flow forecast.Luis has forecasted the following sales and cost figures for the first six months of operation,beginning in January.Sales• Average selling price of one cupcake: $5.• Sales of cupcakes: 1300 cupcakes in January and 1700 cupcakes per month from February70% of customers who purchase cupcakes will pay in cash. The supermarkets will buy theremaining 30% of cupcakes on credit and pay one month later.Costs• Rent: $6500, payable at the start of each quarter.• Labour costs: $750 per month.• Raw materials: 50% of sales revenue per month, paid in cash.• Overheads: $400 per month, paid in cash.(a)(b)(c)State two features of a partnership.Prepare a monthly cash-flow forecast for TC for the first six months of operation.Calculate TC’S forecasted net profit at the end of June (show all your working).[2][6][2]

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