2. Aquatic Man, Inc., has a 36-day average collection period and wants to maintain a minimum cash balance of $22 million, which is what the company currently has on hand. The company currently has a receivables balance of $176 million and has developed the following sales and cash disbursement budgets in millions:

Sales $421 $449 $475 $529 Total cash disbursement 391 353 592 485

Complete the following cash budget for the company. (35 Points)

Beginning receivables Cash collections

Total cash disbursements

Net cash inflow Minimum cash balance

Q1 Q2 Q3 Q4

AQUATIC MAN, INC. Cash Budget (in millions)
Q1 Q2 Q3	Q4

Sales

Ending receivables

Total cash collections

Net cash inflow

Beginning cash balance

Ending cash balance

Cumulative surplus (deficit)