18. Create a Cash Budget for the months April through June with the information given below. Determine the amount of financing required (if any). Sales are shown in the table below: February March April May June July Month $10,000 $40,000 $50,000 $75,000 $85,000 $90,000 Sales Sales are 30% cash and 70% credit. Of the credit sales, 50% is collected in the month following the sale, and 50% is collected two months following the sale. Cost of Goods Sold is strictly materials (inventory) and is 55% of sales. All inventory purchases are paid for one month after they are made. The store follows a policy of purchasing inventory one month in advance of sales. A minimum cash balance of $8,000 is desired. Wages from April through June are paid as incurred. The corporate tax rate is 35%. No tax payments are due during this quarter. A $6,000 dividend payment will be made in April. Ending cash for March was $10,000