Cash b Grenoble Enterprises had sales of $49,600 in March and $60,500 in April Forocast sales for May, June, and July are $70,300, $80,500, and 100,300, rspectively. The firm has a cash balance of $5,300 on May 1 and wishes to maintain a minimum cash balance of $5,300. Given the fallowing data, prepare and inberpret a cash budget for the months of May, June, and July (T) The frm makes 16% of sales cash.62% are coledod intero t month, and terenang22% ore ooleted ibe seend mort flowing tale 2) The firm receives other income of $1,500 per month 3) The fm's actual or expected purchases, all made for cash, ane $50,100, $70,500, and $80, 100 for the months of May through July, respectively 4) Rent is $2,900 per month (5) Wages and salanes are 9% of the previous month's sales. 6) Cash dividends of $2.700 will be paid in June Payment of principal and interest of $4,100isdue in June. B) A cash punchase of equipment costing $6,100 is scheduled in July 9)Taxes of $5,700 are due in June Complete the irst month of the cash budget for Grenoble Enterprises below: (Round to the nearest dollar. Please input all the values in the table before checking your answers) March ApriMay 49,800 60,500 $ 70,300 ,9369880 Lag 1 month Lag 2 months Other inoome Total cash receipts Round to the nearest dollar. Please input all the values in the table before checking your anowers.) Erter any runter i,the edt fields and then contrue to the naquestion. MacBook Air 3 9