2. Gale Communications, Inc., is preparing its cash budget for 2012. Gale ended 2011 with cash of $85 million, and managers need to keep a cash balance of at least $78 million for operations.Collections from customers are expected to total $11,335 million during 2012, and payments for the cost of services and products should reach $6,169 million. Operating expense payments are budgeted at $2,553 million. During 2012, Gale expects to invest $1,822 million in new equipment and sell older assets for $157 million. Debt payments scheduled for 2012 will total $578 million. The company forecasts net income of $893 million for 2012 and plans to pay dividends of $358 million. Prepare Gale Communications' cash budget for 2012. Will the budgeted level of cash receipts leave Gale with the desired ending cash balance of $78 million, or will the company need additional financing? If so, how much? (Show your solution step by step) (10 POINTS)