a. Only whole numbers are to be entered as answers. Therefore, DO NOT put any signs in such as $, %, #, or a comma etc. in your answer. For example, if your answer is $1234 you should write 1234 as your answer and if your answer is 4%, write 4 as your answer.

b. Indicate a negative number by putting a minus sign in front. Therefore, if your answer is negative 1234 you need to post -1234 as your answer.

c. Round your answer to the nearest whole number, i.e. no decimal points. So if your answer is 1234.60 you should write 1235.

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:

	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter
Total cash receipts	$	190,000	$	340,000	$	220,000	$	240,000
Total cash disbursements	$	267,000	$	237,000	$	227,000	$	257,000

The companys beginning cash balance for the upcoming fiscal year will be $25,000. The company requires a minimum cash balance of $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:

Prepare the companys cash budget for the upcoming fiscal year and answer the following questions

1. How much is the ending cash balance in the 1^st quarter

2. How much is the Interest paid in the in 2^nd quarter. Note: Do not use a negative sign for the interest.

3. What is the Ending Cash Balance in the 4^th quarter

4. What is the beginning Cash Balance for the year

5. What is the total financing for the year