1 N Quarters 3 4 Cash balance, beginning $16 $e $13 $10 Add collections from customers...... a 70 67 80 Total cash available ?? 80 90 Less disbursements: Purchase of inventory .. 31 40 35 Operating expenses 35 22 ? 15 Equipment purchases .10 14 19 0 Dividends 06 05 Total disbursements 66 ? f 55 Excess (deficiency) of cash available over disbursements ...................... 7 17 (2) 35 Financing: Borrowings. b 12 Repayments (including interest)..... d (21) Total financing ....... ?? 12 (21) Cash balance, ending 10 ? $10 $14 The borrowing required during the first quarter to meet the minimum cash balance (item b) is: a. $0 b. $7 c. $10 d. $3 *** Quarters 1 2 3 4 Cash balance, beginning ............... $16 $e $13 $10 Add collections from customers...... a 70 67 80 Total cash available ............... ? ? 80 90 Less disbursements: Purchase of inventory ............ 31 40 35 Operating expenses 35 22 ? 15 Equipment purchases 10 14 19 0 Dividends 06 05 Total disbursements ...... 66 ? f 55 Excess (deficiency) of cash available over disbursements ................... 7 17 (2) 35 Financing: Borrowings b 12 Repayments (including interest).... (21) Total financing ..... ? ? 12 (21) Cash balance, ending 10 ? $10 $14 -- we The collections from customers during the first quarter (item a) are: O a. $50 b. $60 O c. $57 d. $73