3) Application of Ch 12-13 concepts: determining a firm's quarterly cash need/excess position at the end of each quarter. Does it need to borrow (new loans) or does it have excess cash that will need to be invested in ST investments? This seasonal firm has the following quarterly sales forecast. Quarter Q1 Q2 Q3 Q4 Sales $ 5,000,000 $ 50,000,000 $30,000,000 $ 5,000,000 1. Complete the following chart given a forecasted Net Profit Margin of 7.5% and a Dividend Payout Ratio of 100%. Plowback is the amount of profit the firm reinvests in its operations - so plowback is equal to Profit less Dividends. The amount of plowback will need to be added to the Net Worth line. In this first example, the firm chooses to pay all of its profits to its shareholders and will retain no profit within the firm. Quarter Q1 Q2 Q3 Q4 Sales $5,000,000 $50,000,000 $30,000,000 $5,000,000 Net Profit Dividends Plowback