26A company is preparing its cash budget for the first quarter of the year. It has $1300in cash at the beginning of the period. Cash sales for the quarter are budgeted at $30700. Selling and administrative expenses are budgeted at $8600, which includes $2600depreciation. Cash expenses are paid in the month incurred. Cash payment for inventory purchases are budgeted at $26000. The desired cash balance on March 31 is $5200. How much financing will the company need during the quarter?