Exercise 8.7 (Algo) Cash Budget [LO8-8] Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has prepared the following saimmary of itc budgeted cash flows: The company's beginning cash balance for the upcoming fiscal year will be $34,000. 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 begining of any quarter and may repay its loans, or any part of its loans, at the end of any cuarter, interest payments are due on any principal at the time it is repald, For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repoyments, interest, and cash deficiencies should be indicated by a minum sign. The company's beginning cash balance for the upcoming fiscal year wil be $34.000. The company requires a minimum cash balance of 510,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any artoumt 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.)