E4-24A. (Learning Objective 5: Construct and use a cash budget) Dexter Communications, Inc., is preparing its cash budget for 2015 . Dexter ended 2014 with cash of $68 million and managers need to keep a cash balance of at least S70 million for operations Collections from customers are expected to total $11,325 million during 2015, and payments for the cost of services and products should reach $6,196 million. Operating expense payments are budgeted at $2,553 million During 2015. Dexter expects to invest $1.822 million in new equipment and sell older assets S157 milion Debt payments scheduled fo2015 ill total 88 millio Th m pam. forecasts net income of $893 million for 2015 and plans to pay dividends of $348 million Prepare Dexter Communications' cash budget for 2015. Will the budgeted level of cash receipts leave Dexter with the desired ending cash balance of $70 million, or will the company need additional financing? If so, how much