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M Inc. has a cash balance of $10000 on January 1 of the current year. The company's controller forecast the following cash receipts and

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M Inc. has a cash balance of $10000 on January 1 of the current year. The company's controller forecast the following cash receipts and cash disbursements: Month January February March Cash Receipts Cash Disbursements $45774 $56044 $71603 $67906 $69979 $73364 Management desires a minimum balance of $10,000 at all times. If necessary, additional financing can be obtained at a 12% interest rate. Interest is paid at the time of repaying the loan principal. Note: for calculating interest, if our budget indicates we will need to borrow money, we will plan to do so at the beginning of the month. When we are able to repay the balance we will do so at the end of the month. Use the format below to create a cash balance. January Beginning cash balance February March Add: cash receipts Subtotal Less: cash payments Cash balance financing/repayment Financing: before Borrowing to maintain minimum balance Principal repayment Interest payment Ending cash balance What net financing is required for January? Round ONLY your final answer to the nearest dollar. Enter your answer as either 0 if none is required, positive for borrowing (no sign) or negative for repayment (use a - sign).

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