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: 1st Quarter2nd Quarter3rd Quarter4th Quarter Total cash receipts $150,000 $350,000 $230,000 $240,000 Total cash disbursements$267,000 $237,000 $227,000 $257,000 The company's beginning cash balance for the upcoming fiscal year will be $25,000. 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 and answer the following questions 1. How much is the ending cash balance in the 1st quarter 2. How much is the Interest paid in the in 2nd quarter. Note: Do not use a negative sign for the interest. 3. What is the Ending Cash Balance in the 3rd quarter 4. What is the beginning Cash Balance for the year 5. What is the total financing for the year Moving to another question will save this response. Question 6 of 21