Grenoble Enterprises had sales of $50,200 in March and $60,000 in April. Forecast sales forMay, June, and July are $70,000, $79,800, and $100,200, respectively. The firm has a cash balance of $4,800 on May 1 and wishes to maintain a minimum cash balance of $4,800. Given the followingdata, prepare and interpret a cash budget for the months ofMay, June, and July.

(1) The firm makes 17% of sales forcash, 60% are collected in the nextmonth, and the remaining 23% are collected in the second month following sale.

(2) The firm receives other income of $1,600 per month.

(3) Thefirm's actual or expectedpurchases, all made forcash, are $50,400, $70,500, and $80,200 for the months of May throughJuly, respectively.

(4) Rent is $2,500 per month.

(5) Wages and salaries are 12% of the previousmonth's sales.

(6) Cash dividends of $3,200 will be paid in June.

(7) Payment of principal and interest of $4,300 is due in June.

(8) A cash purchase of equipment costing $6,100 is scheduled in July.

(9) Taxes of $5,800 are due in June.

PLEASE USE ATTATCHMENTS AND FILL IN ALL THE BLANKS

Complete the first month of the cash budget for Grenoble Enterprises below: (Round to the nearest March April May Sales 50,200 $ 60,000 $ 70,000 Cash sales 8.534 10,200 $ Lag 1 month S Lag 2 months Other income Total cash receiptsMarch April May Disbursements Purchases 95 :| Rent 95 Wages and salaries 5 :I Dividends s |:I Principal and interest ii: :| Purchase of new equipment ii: :| Taxes due ii: :I :l Tetal cash disbursements 5 [Round to the nearest dollar. Please input all the 1.ralues in the table befere checking your answers.) March April May Net cash flow Add: Beginning cash Ending cash Minimum cash Required total financing (notes payable) CA Excess cash balance (marketable securities)April May June Sales $ 60,000 $ 70,000 $ 79,800 Cash sales Lag 1 month Lag 2 months Other income Total cash receipts (Round to the nearest dollar. Please input all the values in the table before checking your answers.)April Mary J u ne Disbursements Purchases Rent 35 $ E Wages and salaries 55 :l Dividends is I:| Principal and interest 55 |:| Purchase of new equipment $ :| Taxes due 55 $ E Total cash disbursements {Round to the nearest dollar. Please input all the 1.ralues in the table before checking your answers} April May June Net cash flow Add: Beginning cash Ending cash Minimum cash Required total financing (notes payable) Excess cash balance (marketable securities) Complete the third month of the cash budget for Grenoble Enterprises below: (Round to the nearest dolComplete the third month of the cash budget for Grenoble Enterprises below: (Round to the nearest May June July Sales 70,000 $ 79,800 $ 100,200 Cash sales Lag 1 month Lag 2 months Other income Total cash receiptsMay June July Disbursements Purchases Rent Wages and salaries Dividends Principal and interest Purchase of new equipment Taxes due Total cash disbursements /Round to the nearest dollar Please innut all the values in the table before checking your Answers 1(Round to the nearest dollar. Please input all the values in the table before checking your answers.) May June J uly Net cash ow Ad d: Beginning cash Ending cash Minimum cash Required total nancing (notes payable] mmmmmm Excess cash ba la nee [m arketa ble securities} The rm should establish a credit line of at least $|:|, but may need to secure three to four times this amount based on scenario analysis. (Round to the nearest dollar.)