Cash budget-Basic Grenoble Enterprises had sales of $50,400 in March and $59,600 in April Forecast sales for May. June, and July are $69,500,$80,300, and $99,600, 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 16% of sales for cash, 60% are collected in the next month, and the remaining 24% are collected in the second month following sale. (2) The firm receives other income of $1,800 per month. (3) The firm's actual or expected purchases, all made for cash, are $49,800,$70,000, and $79,700 for the months of May through July. respectively (4) Rent is $3,300 per month. (5) Wages and salaries are 9% of the previous month's sales. (6) Cash dividends of $2,900 will be paid in June. (7) Payment of principal and interest of $4,300 is 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.)