Dorothy Koehi recently leased space in the Southside Mall and opened a new business, Koehl's Doll Shop. Business has been good, but Koehl frequently runs out of cash. This has necessitated late payment on certain orders, which is beginning to cause a problem with suppliers. Koehl plans to borrow from the bank to have cash ready as needed, but first she needs a forecast of just how much she must borrow, Accordingly, she has asked you to prepare a cash budget for the critical period around Christmas, when needs will be especially high Sales are made on a cash basis only. Koehl's purchases must be paid for during the following month. Koehl pays herself a salary of $4,700 per month, and the rent is $1,900 per month. In addition, she must make a tax payment of $10,000 in December. The current cash on hand (on December 1) is $850, but Koehl has agreed to maintain an average bank balance of $5,000 this is her target cash balance. (Disregard the amount in the cash register, which is insignificant because Koehl keeps only a small amount on hand in order to lessen the chances of robbery.) The estimated sales and purchases for December, January, and February are shown below. Purchases during November amounted to $110,000. Sales Purchases 30,000 30,000 30,000 $120,000 January February The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below 32,000 58,000