Ivanhoe Inc. is a wholesaler of Christmas decorations and wrapping paper. It is a seasonal business and, due to the timing of cash inflows and outflows, it frequently experiences a cash shortfall in the fourth quarter of the year before it can liquidate its current assets. Ivanhoe Inc. has a cash balance as of October 1 of $36.000. Cash receipts for October, November, and December are expected to be $24,000, $32,000, and $86,000, respectively. Fixed-cash operating expenses are $43,000 per month, and variable-cash operating expenses are generally 30 percent of the cash receipts for that month. If the line of credit is paid off the month after it is used, there is no interest charged. Prepare a cash budget for Ivanhoe Inc., and determine whether Ivanhoe Inc. will need to make use of its $10,000 credit line. (Do not leave any answer field blank. Enter o for amounts. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses es (45).) used, there is no interest charged. Prepare a cash budget for Ivanhoe Inc., and determine whether Ivanhoe Inc. will need to make use Un its $10,000 credit line. (Do not leave any answer field blank. Enter o for amounts. Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) October November December Opening cash balance $ Total cash receipts Cash on hand Less: Operating expenses -fixed -variable Closing cash balance Line of credit New opening cash balance $ $ Line of credit used (paid)