Cash budget-Advanced The actual sales and purchases for Xenocore, Inc., for September and October 2019, along with its forecast sales and purchases for the period November 2019 through April 2020, follow The fimm makes 30% of all sales for cash and collects on 35% of its sales in each of the 2 months following the sale. Other cash inflows are expected to be $10,000 in September and April, $14,000 in January and March, and $25,000 in February. The firm pays cash for 12% of its purchases. It pays for 50% of its purchases in the following month and for 38% of its purchases 2 months later. Wages and salarles amount to 21% of the preceding month's sales. Rent of $18,000 per month must be paid. Interest payments of $11,000 are due in January and April. A principal payment of S29,000 is also due in April. The firm expects to pay cash dividends of $21,000 in January and April. Taxes of $75,000 are due in April. The firm also intends to make a $23,000 cash purchase of fixed assets in December a. Assuring that the firm has a cash balance of $24,000 at the beginning of November, determine the end-of-month cash balances for each month November through April b. Assuming that the firm wishes to maintain a $13,000 minimum cash balance, determine the required total financing or excess cash balance for each month November through April. c. If the firm were requesting a line of credit to cover needed financing for the period November to April, how large would this line have to be? Explain your answer. $ S 118,000 $ 151,000 $ 138,000 $ X More Info Total cash receipts Forecast Purchases Cash purchases Payments Lag 1 month Lag 2 month Salaries and wages Rent $ $ (Click on the loon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) s $ $ Interest payments Principal payments $ $ Month September October November December January February March April Year 2019 2019 2019 2019 2020 2020 2020 2020 Dividends Sales $213,000 253,000 165,000 162,000 138,000 175,000 196,000 250,000 Purchases $116,000 151,000 138.000 98.000 82,000 110.000 104.000 85.000 Taxes $ Purchases of fixed assets Total cash disbursements Net cash flow $ $ $ Add: Beginning cash Ending cash $ $ Print Done Help Me Solve This View an Example Get More Help Clear All Check