Kingbird Corporation has provided the following budget data for the third quarter of operations: April May June Total Sales $280,000 $308.000 $244,000 $832,000 Purchases $240,000 $280,000 $232,000 $752.000 Sales are made 30% cash and 70% on credit of which 40% are collected in the month of sale, 35% in the month following sale, 20% in the second month following sale. The remainder is uncollectible. Sales for February and March were $232,000 and $240,000, respectively while purchases were $224,000 and $228,000, respectively. Purchases are paid one month following purchase. In addition, Kingbird recorded $6,000 depreciation expense per month and paid dividends of $60,000 in June. The company's opening cash balance on March 31 was $36,000 and it must maintain a minimum closing cash balance of $35,000 each month. The company can only borrow in increments of a thousand dollars at the end of each period. Prepare the company cash budget for the quarter. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Prepare the company cash budget for the quarter. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (45).) April May June %24 Sales Credit Sales %24 Cash Sales %24 %24 Current Month Previous Month Second Month Total Cash Inflow 24 %24 24 Purchase Payments %24 Dividends Total Cash Outflow %24 Net Cash Flow %24 %24 Beginning Cash Ending Cash before loan %24 %24 %24 %24 Current Month Previous Month Second Month Total Cash Inflow 2$ %$4 Purchase Payments %24 %24 Dividends Total Cash Outflow %24 %24 Net Cash Flow Beginning Cash Ending Cash before loan %24 %24 Borrowings Ending Cash %24 %24