Exercise 7-13A (Algo) Preparing a cash budget LO 7-5 The accountant for Solomon's Dress Shop prepared the following cash budget. Solomon's desires to maintain a cash cushion of $18,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month Required a. Complete the cash budget by filling in the missing amounts b. Determine the amount of net cash flows from operating activities Solomon's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Solomon's will report on the third quarter pro forma statement of cash flows. Complete this question by entering your answers in the tabs below. Reg A Req Band Complete the cash budget by filling in the missing amounts. Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) July August September $ Cash Budget Section 1: Cash receipts Beginning cash balance Add cash receipts Total cash available Section 2 Cash payments For inventory purchases 49,500 194,000 243,500 214,000 254,600 172,526 147,230 181,152 Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the cash budget by filling in the missing amounts. (Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) Cash Budget July August September Section 1: Cash receipts Beginning cash balance $ 49,500 Add cash receipts 194,000 214,000 254,600 Total cash available 243,500 Section 2: Cash payments For inventory purchases 172,526 147.230 181,152 For S&A expenses 61,500 67,560 68,432 For interest expense 0 Total budgeted disbursements 234,026 Section 3: Financing activities Surplus (shortago) 9,474 Borrowing (repayments) 8,526 Ending cash balance $ 18,000 $ 18,000 $ 18,000 a Rega Req B and C> Required a. Complete the cash budget by filling in the missing amounts. b. Determine the amount of net cash flows from operating activities Solomon's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Solomon's will report on the third quarter pro forma statement of cash flows. Complete this question by entering your answers in the tabs below. Req A Reg B and C Determine the amount of net cash flows from both operating and financing activities Solomon's will report on the third quarter pro forma statement of cash flows. (Round intermediate calculations and final answers to the nearest whole dollar amount.) Net cash (operating activities) Net cash (financing activities)