Josh Reddick Nursery Corporation is a retailer of garden products. The company is in the process of preparing its budget for its next fiscal year. You have been given the following data about Reddick: 1. The company's beginning cash balance for the upcoming fiscal year will be $36,000 2. The company requires a minimum cash balance of $10,000 3. The company may borrow any amount needed from a local bank at a quarterly interest rate of 3% 4. The 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. 5. Interest payments are due on any principal at the time it is repaid and you can assume that interest is not compounded. In addition to the above data, Reddick has prepared the following summary of its budgeted cash flows: 28 Total cash receipts Total cash disbursemento 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 260,000 $ 410,000 $ 290,000 $ 310,000 $ 316,000 $ 286,000 $ 276,000 $ 296,000 Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.) Year Josh Reddick Nursery Corporation Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess of cash available over disbursements Financing Borrowings Repayments Interest Total financing Ending cash balance