5 Exercise 7-13A (Algo) Preparing a cash budget LO 7-5 3 points The accountant for Gibson's Dress Shop prepared the following cash budget. Gibson's desires to maintain a cash cushion of $22,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required eBook a. Complete the cash budget by filling in the missing amounts. b. Determine the amount of net cash flows from operating activities Gibson's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Gibson's will report on the third quarter pro forma statement of cash flows. Hint 5 Complete this question by entering your answers in the tabs below. Reg A Req B and C 3 points Complete the cash budget by filling in the missing amounts. (Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) July August September eBook $ 46,500 208,000 248,600 Hint 188,000 234,500 Print 144,230 Cash Budget Section 1: Cash receipts Beginning cash balance Add cash receipts Total cash available Section 2: Cash payments For inventory purchases For S&A expenses For interest expense Total budgeted disbursements Section 3: Financing activities Surplus (shortage) Borrowing (repayments) Ending cash balance 169,526 58,500 178,152 65,432 64,560 0 228,026 References 6,474 15,526 22,000 $ $ 22,000 $ 22,000 5 of 1 percent per month. Required 3 points a. Complete the cash budget by filling in the missing amounts. b. Determine the amount of net cash flows from operating activities Gibson's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Gibson's will report on the third quarter pro forma statement of cash flows. eBook Complete this question by entering your answers in the tabs below. Hint Req A Reg B and C Print Determine the amount of net cash flows from both operating and financing activities Gibson's will report on the third quarter pro forma statement of cash flows. (Round intermediate calculations and final answers to the nearest whole dollar amount.) References Net cash (operating activities) Net cash (financing activities)