Cash is King! Good cash management is an essential job of the financial manager! You own a small auto sales business called King Kars. You stock up on inventory in February, April, June, and September. Your annual cash budget indicates that your MONTHLY NET CASH for the year will be the following: JAN $5,000 FEB -$30,000 MAR $20,000 APRIL -$35,000 MAY $25,000 JUNE -$10,000 JULY $25,000 AUG $25,000 SEPT -$30,000 OCT $15,000 NOV $15,000 DEC $25,000 You begin the year with a cash balance of $50,000, and the minimum cash balance desired must be $50,000 every month. Prepare a cash flow summary and external financing summary as noted in the Excel spreadsheet assigned to this submission.

1. Do you believe that the company needs outside financing?
2. What is the minimum line of credit to request from a lender?
3. Do you think you are a good candidate for the line of credit? Why?

Please submit the Excel template below, saved under your name, with the columns and rows completed with the cash flows. Also in this template, you must include the answers to questions 2 and 3 in the assignment.