Melanie Inc. provides you with the following budgeted information for two months in year 2019: of March April Sales $515,000 $655,000 Manufacturing Costs 160,000 310,000 Capital Expenditures* 110,000 50,000 General and Administration Costs (including amortization) 60,000 95,000 *includes training programs, machines and buildings Expectations: Cash sales represent 15% of total sales All sales on account are collected in the following month 55% 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 following month. April's capital expenditure will be paid in May. Monthly amortization represents 15% of general and administration costs Manufacturing costs and general and administration costs are to be paid in the month in which they are incurred Dividends of $2,000 are expected to be declared in March and paid in April Melanie Inc. obtains the minimum financing needed to ensure at least a $33,750 cash balance at the end of the month through a bank loan. Assume that any amount taken out of the bank loan may be repaid only at year end. As of March 1 Cash $29,000 Accounts Receivable* 197,000 Inventory 110,000 Long-Term Assets 105,000 Accumulated Depreciation 5,000 Accounts Payable 6,000 Dividends Payable (in March) 4,000 Notes Payable 265,000 Stockholder's Equity 123,000 *Comprised only of sales on account incurred in February Melanie Inc. Cash Budget for March and April March April Opening Cash Balance $ S Receipts Cash from sales $ $ Collection from customers $ S Total cash available $ $ Disbursements Manufacturing costs $ $ General and admin. costs $ Capital Expenditures $ Dividend Payment $ $ Total Cash Payments $ Cash Excess Deficit $