Garden Depot is a retailer that provided the following budgeted cash flows for next year:

$1$st Quarter $2$nd Quarter $3$rd Quarter $4$th Quarter

Total cash receipts $ $290,000$ $ $440,000$ $ $320,000$ $ $340,000$

Total cash disbursements $ $337,000$ $ $307,000$ $ $297,000$ $ $317,000$

The company$$s beginning cash balance for next year will be $$42,000.$ The company requires a minimum cash balance of $$10,000$ and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of $3\%,$ are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded.

Required:

Prepare the company$$s cash budget for next year.

Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign.Prepare the company's cash budget for next year.

Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign.

$\backslash$table$[[$Garden Depot$],[$Cash Budget$],[,1$st Quarter,$2$nd Quarter,$3$rd Quarter,$4$th Quarter,Year$],[$Beginning cash balance,$$,42,000,$$$,9,550,,],[$Total cash receipts,,$290,000,,,,,],[$Total cash available,,$332,000,,9,550,0,0,],[$Total cash disbursements,,$337,000,,,,,],[$Excess $($deficiency$)$ of cash available over disbursements,,$(5,000),,9,550,0,0,],[$Financing:$],[$Borrowings$,,15,000,,,,,],[$Repayments$,,(900),,,,,],[$Interest$,,450,,,,,],[$Total financing,,$14,550,,0,0,0,],[$Ending cash balance,$$,9,550,$$$,9,550,$$$,$$$,]]$