Objective: To understand and apply the basic concepts of profit planning. Grading: This project is worth 45 points. Group/Individual assignment: This is a group assignment or individual assignment. If you choose to work in a group, you must evaluate your group members based upon their participation in the assignment. This evaluation must be turned in so that all group members receive the appropriate points. I also recommend that you use the collaboration feature in Canvas to share documents that you are working on with one another. Group size may not exceed 4 students. Required: You need to prepare a comprehensive 6-month budget, including supporting schedules and a report for the period January 1, 2020 to June 30, 2020 for Imagine, Inc (a fictional company). This project must include: 1. Sales Forecast and Budget 2. Cash Receipts budget 3. Purchase budget 4. Cash Purchases Disbursements budget 5. Operating Expense budget 6. Summary Cash budget 7. Budgeted Income Statement 8. Budgeted Balance Sheet 9. A written Summary Report