Homework- CH 08 - Spring 2021 5 Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows 2 Total cash receipts Total each disbursements ist Quarter and Quarter Sne Ounrter 4th Quarter $ 270,000 5:420,000 $ 300,000 $320,000 $325,000 $ 200,00 $20,000 $ 305,000 The company's beginning cash balance for the upcoming fiscal year will be $38.000. 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 3The 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. Hir Prire enced Year Garden Depot Cash Quarted at Jad tarth Quarter Bring cash balance Totalcach Totalcash wallable Totalchaburi Exconn (deficiency of canh available over dibumonts Financing Borge Repayments interest Total incing Ending cash balance