Melanie Inc. provides you with the following budgeted information for two months in the current year. Expectations: - Cash sales represent 25% of total sales - All sales on account are collected in the following month - 50% of March's $110,000 worth of capital expenditures is to be paid at the end of March. The remainder is to be paid in the following month. April's capital expenditure will be paid in May. - Monthly amortization represents 25% of general and administration costs - Inventory costs and general and administration costs are to be paid in the month in which they are incurred - Dividends of $7,000 are expected to be declared in March and paid in April - Melanie Inc. obtains the minimum financing needed to ensure at least a $34,250 cash balance at the end of the mont' payable. Assume that any amount taken out of the bank loan may be repaid only at year end. As of March 1 \begin{tabular}{|l|r|} \hline \hline Cash & $24,000 \\ \hline Accounts Receivable* & 228,000 \\ \hline Inventory & 45,000 \\ \hline Long-Term Assets & 120,000 \\ \hline Accumulated Depreciation & 4,000 \\ \hline Accounts Payable & 11,000 \\ \hline Dividends Payable (in March) & 4,000 \\ \hline Notes Payable & 265,000 \\ \hline Shareholder's Equity & 118,000 \\ \hline *Comprised only of sales on account incurred in February \\ \hline \end{tabular} Do not enter dollar signs or commas in the input boxes. Use the negative sign for any cash deficit. Prepare a cash budget for March and April. Melanie Inc. Cash Budget for March and April \begin{tabular}{|l|l|l|} \hline Dividend Payment & $0 & $7000 \\ \hline Total Cash Payments & $ & $ \\ \hline \hline Cash Excess (Deficit) & $ & $ \\ \hline Financing Requirements: & & $ \\ \hline Notes Payable & $ & $ \\ \hline Loan Repayment & & $ \\ \hline Ending Cash Balance & $ & $ \\ \hline \end{tabular} Check