Cash budget-Basic Grenoble Enterprises had sales of $49,600 in March and $60,200 in April. Forecast sales for May, June, and July are $70,000, $80,100, and $100,200, respectively. The firm has a cash balance of $4,600 on May 1 and wishes to maintain a minimum cash balance of $4,600. Given the following data, prepare and interpret a cash budget for the months of May, June, and July. (1) The firm makes 22% of sales for cash, 59% are collected in the next month, and the remaining 19% are collected in the second month following sale. (2) The firm receives other income of $1,900 per month. (3) The firm's actual or expected purchases, all made for cash, are $50,300,$70,400, and $80,400 for the months of May through July, respectively. (4) Rent is $2,900 per month. (5) Wages and salaries are 11% of the previous month's sales. (6) Cash dividends of $3,300 will be paid in June. (7) Payment of principal and interest of $3,500 is due in June. (8) A cash purchase of equipment costing $6,100 is scheduled in July. (9) Taxes of $6,500 are due in June. Complete the first 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.)