At the beginning of the first quarter fiscal year 2020, Callahan's Inc. has a cash balance of $460. During the quarter, the company collects the quarter's sales plus the beginning A/R balance. Callahan's material cost is 55% of sales and they purchase the material a quarter before the sale. Their accounts payable period is 25 days and the beginning A/P balance is $73. They have debt of $800 for which they pay 2.5% interest every quarter. They also have a tax payment of $70 every quarter. Wages and other expenses are 20% of sales. Prepare a cash budget for Callahan's for their fiscal year 2020 based on the below sales forecast. Suggest a minimum amount of cash you feel they should always maintain, use your suggestion to calculate surplus/deficit, and explain your reasoning. Sales Forecast Q4F419 $480 Q1FY20 $480 Q2FY20 $560 Q3FY20 $600 Q4FY20 $800 Q1FY21 $800 Cash Budget FY2020 Beginning Balance + Total Cash Collection A/P Paid Interest Tax Payments Wages & Other Expenses - Total Cash Disbursements Ending Balance - Minimum Balance Surplus/Deficit Explaini