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: Total cash receipts Total cash disbursements Ist Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 200,000 $ 350,000 $ 230,000 $ 250,000 $ 274,000 $244,000 $ 234,000 $ 254,000 The company's beginning cash balance for the upcoming fiscal year will be $24,000. 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 loons, 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, and Interest, should be indicated by a minus sign.) Answer is not complete. Gardon Depot Cash Budget 1st 2nd 3rd Quarter Quarter Quarter $ 24,000 $10,000 $ 52,400 200,000 350,000 230,000 224,000 360,000 282,400 274,000 244,000 234,000 (50,000) 116,000 48,400 4th Yoar Quarter $ 48,400 $ 24,000 250,000 1,030,000 298,400 1,054,000 254,000 1,006,000 44.400 48,000 Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing Ending cash balance 60,000 60,000 3,600 60,000 $ 10,000 3,600 3,600 $ 119,600 0 $ 48,400 0 $ 44,400 $ 44,000