Assume the following information for Royal:Maintains a minimum cash balance of $$30,000$

$>$ Borrows on the first day of the month and repays

loans on the last day of the month$>$ Purchases $$143,700$ of equipment in May and

$$48,300$ in June $($both purchases paid in cash$)$

$>$ Has an April $1$ cash balance of $$40,000$