Melanie Inc. provides you with the following budgeted information for two months in the current year. March April Sales $600,000 $725,000 Inventory Costs 250,000 310,000 Capital Expenditures 110,000 50,000 General and Administration Costs (including amortization) 85,000 100,000 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 month through a note payable. Assume that any amount taken out of the bank loan may be repaid only at year end. As of March 1 Cash $24,000 Accounts Receivable* 228,000 Inventory 45,000 Long-Term Assets 120,000 Accumulated Depreciation 4,000 Accounts Payable 11,000 Dividends Payable in March) 4,000 Notes Payable 265,000 Shareholder's Equity 118,000 *Comprised only of sales on account incurred in February 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 March April Opening Cash Balance $ $ Receipts: Cash from sales $ $ Collection from customers $ $ Total cash available $ $ Disbursements: Inventory costs $ $ General and admin. costs $ $ Capital Expenditures $ $ LA $ $ Dividend Payment $ $ Total Cash Payments $ $ $ Cash Excess (Deficit) $ Financing Requirements: Notes Payable $ $ Loan Repayment Ending Cash Balance $ HA $