3 Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 290,000 44e,900 320,80 340, 8ee 337,e 307,000 297,e00 317,e80 The company's beginning cash balance for the upcoming fiscal year will be $42,000. The company requires a minimum cash balance eBookof $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: ReferencesPrepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.) Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Beginning cash balance Total cash receipts Total cash available Total cash disbursements 290,000 290,000 337.000 (47,000) 440,000320,000 340,000 1,390,000 440,000 307,000 297,000317,000 1,258,000 133,000 320,000 340,000 1,390,000 23,000 23,000 132,000 Interest Total financing Ending cash balance (47,000) 133,000 23,000 $ 23,000S 132,000 Mc