During the last week of August, Apache Arts Company's owner approaches the bank for an $98,500 loan to be made on September 2 and repaid on November 30 with annual interest of 16%, for an interest cost of $3,940. 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, $115,200 of accounts receivable, and $100,000 of accounts payable. Its budgeted sales, merchandise purchases, and various cash disbursements for the next three months follow. September- October November Budgeted Figures" Sales Merchandise purchases Cash disbursements $ 260,000 $415,000 $440,000 205,000203,000 235,000 20,600 10,000 34,300 24,000 10,000 20,750 98,500 3,940 Payroll Rent Other cash expenses Repayment of bank loan Interest on the bank loan 21,850 10,000 30,200 "Operations began in August, August sales were $160,000 and purchases were $110,000 The budgeted September merchandise purchases include the inventory increase. All sales are on account The company predicts that 28% of credit sales is collected in the month of the sale, 43% in the month following the sale, 23% in the second month, 5% in the third, and the remainder is uncollectible Applying these percents to the August credit sales, for example, shows that $68,800 of the $160,000 will be collected in September, S36,800 in October, and S8,000 in November All merchandise is purchased on credit, 40% of the balance is paid in the month following a purchase, and the remaining 60% is paid in the second month. For example, of the $110,000 August purchases, $44,000 will be paid in September and $66,000 in October Required Prepare a cash budget for September, October, and November for Apache Arts Company. (Input all amounts as positive values. Leave no cells blank be certain to enter "O" wherever required. Round your intermediate calculations and final answers to the nearest dollar amount. Omit the "$" sign in your response.)