iRequirements 1 1. Calculate the cash that Best Breath expects to collect in April, May and June 2018 from sales and service revenue. Show calculations for each month. Best Breath has budgeted expenditures for May of $11,500 and requires a minimum cash balance of $300 at the end of each month. It has a cash balance on May 1 of $100. a. Given your answer to requirement 1, will Best Breath need to borrow cash to cover its 2. payments for May and maintain a minimum cash balance of S300 at the end of May? b. Assume (independently for each situation) that (1) May total revenues might also be 10% lower or that (2) total costs might be 5% higher. Under each of those two scenarios, show the total net cash for May and the amount Best Breath would have to borrow to cover its cash payments for May and maintain a minimum cash balance of $300 at the end of May. (Again, assume a balance of $100 on May 1.) 3. Why do Best Breath's managers prepare a cash budget in addition to the revenue, expenses, and operating income budget? Has preparing the cash budget been helpful? Explain briefly