Exercise $8-7($Algo$)$ Cash Budget $[$LO$8-8]$

Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary

of its budgeted cash flows:

The company's beginning cash balance for the upcoming fiscal year will be $$42,000.$ The company requires a minimum cash balance

of $$10,000$ and may borrow any amount needed from a local bank at a quarterly interest rate of $3\%.$ The company may borrow any

amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments

are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded.

Required:

Prepare the company's cash budget for the upcoming fiscal year. $($Repayments$,$ interest, and cash deficiencies should be indicated

by a minus sign.$)$