During the last week of August, Apache Arts Company's owner approaches the bank for an $103,500 loarn to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $3,105. The owner plans to increase the store's inventory by $60,000 during September and needs the loan to pay for inventory acquisitions. The bank's loan officer needs more information about Apache Arts' ability to repay the loan and asks the owner to forecast the store's November 30 cash position. On September 1 Apache Arts is expected to have a $4,000 cash balance, $146,000 of accounts receivable, and $100,000 of accounts payable. Its budgeted sales, merchandise purchases, and various cash disbursements for the next three months follow Budgeted Figures September Octobe November $230,000 $485,000 $420,000 230,000 215,000 202,000 Sales Merchandise purchases Cash disbursements Payroll Rent Other cash expenses Repayment of bank loarn Interest on the bank loan 20,400 9,000 34,100 22,050 9,000 29,800 24,800 9,000 20,900 103,500 3,105 Operations began in August; August sales were $200,000 and purchases were $100,000. d September merchandise purchases include the inventory increase. All sales are on account e company predicts that 27% of credit sales is collected in the month of the sale, 44% in the following the sale, 22% in the second month, 6% in the third, and the remainder is uncollectible these percents to the August credit sales, for example, shows that $88,000 of the $200,000 will be collected in September, $44,000 in October, and $12,000 in November. All merchandise is purchased c of the balance is paid in the month following a month. For example, of the $100,000 August purchases, $70,000 will be paid in September and $30,000 in October . Applying n credit; 70% purchase, and the remaining 30% is paid in the second Required Prepare a cash budget for September, October, and November for Apache Arts Company. (Input all amounts as positive values. Leave no cells blank-be certain to enter "o" wherever required. Round