A manufacturing firm has a $90-$day collection period. The firm produces seasonal merchandise and thus has the least sales during the first quarter of a year and the highest level of sales during the fourth quarter of a year. The firm maintains a relatively steady level of production which means that its cash disbursements are fairly equal in all quarters. The firm is most apt to face a cash$-$out situation in:

Group of answer choices

the fourth quarter.

the third quarter.

any quarter with equal probabilities of occurrence.

the second quarter.

the first quarter.