Grenoble Enterprises had sales of $50,500 in March and $59,800 in April. Forecast sales for?May, June, and July are $69,900?, $80,100?, and $100,200?, respectively. The firm has a cash balance of $5,100 on May 1 and wishes to maintain a minimum cash balance of $5,100. Given the following?data, prepare and interpret a cash budget for the months of?May, June, and July.

?(1) The firm makes 21% of sales for?cash, 56% are collected in the next?month, and the remaining 23% are collected in the second month following sale.??

?(2) The firm receives other income of $2,200 per month.??

?(3) The?firm's actual or expected?purchases, all made for?cash, are $49,800?, $70,400?, and $80,400 for the months of May through?July, respectively.??

?(4) Rent is $2,800 per month.??

?(5) Wages and salaries are 10% of the previous?month's sales.??

?(6) Cash dividends of $2,800 will be paid in June.??

?(7) Payment of principal and interest of $4,100 is due in June.??

?(8) A cash purchase of equipment costing $6,200 is scheduled in July.??

?(9) Taxes of $5,500 are due in June.

PLEASE FILL IN THE BLANK ONES AND PLEASE SHOW YOUR WORK

(Round to the nearest dollar. Please input all the values in the table before checking your answers.) May June July Net cash flow Add: Beginning cash Ending cash Minimum cash 5,100 Required total financing (notes payable) Excess cash balance (marketable securities) Enter an dit fields click Check