Acme Corporation has the following information related to its cash budget for the first three months of 2024. A schedule of cash receipts has been constructed and expected cash receipts for the first three months are as follows: January 160000 January February 290000 128000 A schedule of cash payments for Accounts Payable has been constructed and expected cash payments for the first three months are as follows: February March 116000 240000 March Q1 Total 690000 96000 Q1 Total 340000 Additional information related to the cash flow of Acme are as follows: Direct Labor cost from the Direct Labor Budget is $16000 for January, $29000 for February, and $36000 for March. Variable Manufacturing Overhead is $8000 for January, $14500 for February, and $12000 for March. Fixed Manufacturing Overhead is $84000 for the year which includes $8400 of depreciation. Variable Selling, General, and Administrative Expense is $4800 for January, $8700 for February, and $7200 for March. Annual fixed Selling, General, and Administrative Expense is $60000 exclusive of any depreciation. Acme expects to pay dividends of $41000 in February. Acme has a contract to purchase equipment worth $40000 in March. Acme has an agreement with the bank for a line of credit (short-term borrowing). Borrowings are made in whole dollars. The interest rate is 12% and is payable in the month the loan is paid back. Acme has a policy that requires it to maintain a balance of $20,000 and Acme's cash balance at the end of Acme has a policy that requires it to maintain a balance of $20,000 and Acme's cash balance at the end of December 2023 is $23,000. REQUIRED: Complete the following cash budget for Acme. All Manufacturing Overhead is reported on a single line. All Selling, General, and Administrative Expenses are reported on a single line. If a particular cell is zero (0) then enter a 0 in that cell; no cells should be blank. Enter all numbers as positive numbers with the following exceptions: If Cash Payments are larger than Cash Receipts, then Net Cash Flow should be entered as a negative number; Enter all loan repayments and interest payments as a negative number. January February Budgeted Cash Receipts Budgeted Cash Payments: Payments for Accts Pay Budgeted Direct Labor Cash Payments for MOH Cash Payments for SG&A Dividends Equipment Purchases Total Cash Payments Net Cash Flow Beginning Cash Balance Budgeted Cash Available Budgeted Borrowing Budgeted Repayments Interest Expense Ending Cash Balance March Q1 Total