A company is preparing its cash budget for the first quarter of the year. It has $8400 in cash at the beginning of the period. Cash sales for the quarter are budgeted at $184000. Selling and administrative expenses are budgeted at $58300, which includes $11800 depreciation. Cash expenses are paid in the month incurred. Cash payment for inventory purchases are budgeted at $138500. The desired cash balance on March 31 is $10900. How much financing will the company need during the quarter?

$0

$3500

$7400

$4400