Main.do?invokers a The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following et information: Sales Manufacturing costs Selling and administrative $139,000 $175,000 $222,000 58,000 75,000 80,000 49,000 53,000 84,000 53,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent s10,000 of the es monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December. Of the manufacturing costs, 80% are expected to be paid in the month In which they are incurred and the balance in the following month. of the e of $155,300 ($122.000 from July sales Current assets as of September 1 include cash of $53,000, marketable securities of $75,000, and accounts and $33,300 from August sales). Sales on account for July and August were $111,000 and s:122.ods resoetvely, Current lablibles as of Sertenber 1 nue costs. All selling and administrative expenses are paid in cash in the period they are quarterly dvidend of $10,000 is expected to be dectared incurred. An estimated income tax payment of $21,000 will be made in October. Bridgeport's regular in Oxtober and paid in November. M desires to maintain a minimum cash balance of $52,000 Required: with a minus sign. Assume 360 days per year for interest calculations