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Hilliard Company budgeted the following transactions for April Year 2: Sales (75% collected in month of sale) Cash Operating Expenses $220,000 107,000 Cash Purchases

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Hilliard Company budgeted the following transactions for April Year 2: Sales (75% collected in month of sale) Cash Operating Expenses $220,000 107,000 Cash Purchases of Investment 77,000 Cash Payment of Debt Depreciation on Operating Assets 17,000 16,000 The beginning cash balance was $54,000. The company desires to have a $41,000 ending cash balance. The surplus (or shortage) of cash before considering any borrowings in April would be: Multiple Choice $23,000 shortage. $46,000 shortage. $46,000 surplus. There is no cash surplus or shortage.

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