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 $ 440,000 1st Quarter 2nd Quarter 3rd Quarter $ 320,000 4th Quarter $ 372,000 $ 342,000 $ 370,000 $ 332,000 $ 390,000 $ 352,000 The company's beginning cash balance for the upcoming fiscal year will be $27,000. 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.) Beginning cash balance Total cash receipts Total cash available Total cash disbursements Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year 0 0 0 0 Excess (deficiency) of cash available over disbursements 0 0 0 0 Financing: Borrowings Repayments Interest Total financing Ending cash balance 0 0 0 0 $ 0 $ 0 $ 0 $ 0 The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year: Ending Balances Cash Accounts receivable ? $ 9,700 Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings $ 3,800 $ 42,000 $ 17,000 $ 3,400 $ 5,000 ? The beginning balance of retained earnings was $33,000, net income is budgeted to be $16,900, and dividends are budgeted to be $3,500. Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be Indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet Current assets: Total current assets Plant and equipment: Assets Plant and equipment, net Total assets Current liabilities: Stockholders' equity: Liabilities and Stockholders' Equity $ 0 $ 0 0 Total stockholders' equity 0