1. (25 pts) The Itsar Products Company has made the following monthly estimates of cash receipts and cash disbursements when preparing cash budgets for the next 12 months. Itsar Products has beginning cash on hand of $10,000 and wants to maintain this minimum cash level (i.e., minimum cash desired is $10,000 ) throughout the A. Determine whether Itsar Products will have a cash need (a need for borrowing) during the next year. If Itsar Products has a cash need, indicate the month when the need will begin. ( 15pts) B. Determine whether the cash need (if any) can be repaid within the next year (assuming no financing costs). Indicate the month when the cash need will be repaid (if any). (10 pts) 2. (25 pts) Rework Problem 1 assuming minimum cash-on-hand requirements are $10,000 a month through April, increase to $15,000 in May and June, increase further to $20,000 in July and August, and return to the $10,000 per month level beginning in September