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Take me to the text Candice Inc. provides you with the following budgeted information for two months in the current year. Expectations: - Cash sales represent 10\% of total sales - All sales on account are collected in the following month - 65% of March's $110,000 worth of capital expenditures is to be paid at the end of March. The remainder is to be paid in the following month. April's capital expenditure will be paid in May. - Monthly amortization represents 20% of general and administration costs - Inventory costs and general and administration costs are to be paid in the month in which they are incurred - Dividends of $7,000 are expected to be declared in March and paid in April - Candice Inc. obtains the minimum financing needed to ensure at least a $8,000 cash balance at the end of the month through a note payable. Assume that any amount taken out of the bank loan may be repaid only at year end. Prepare a cash budget for March and April. Candice Inc. Cash Budget for March and April