Garden Depot is a retaller that is preparing its budget for the upcoming fiscat year. Management has prepared the following summary of its budgeted cash flows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 300,000 $ 420,000 $ 350,000 $ 370,000 Total cash disbursements $ 350,000 $ 320,000 $ 310,000 $ 338,000 The company's beginning cash balance for the upcoming fiscal year will be $35,000. 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, and Interest, should be indicated by a minus sign.) 3rd Quarter 4th Quarter $ Garden Depot Cash Budget 1st Quarter 2nd Quarter $ 35,000 $ 10,000 300.000 420,000 335,000 430,000 358,000 328,000 (23,000) 102.000 350,000 350,000 318,000 32,000 370,000 370,000 338,000 32.000 Year 35,000 1.440,000 1,485.000 1.342,000 143.000 Beginning cash balance Total cash receipts Total cash available Total cash disbursements Exco (deficiency of cash available over disbursements Financing Borrowings Repayments Interest Total financing Ending cash balance 0 0 0 0 0 0 0 0 0 $ (23,000) 5 102,000 $ 32,000 $ 32,000