Merchandise purchases (COGS) 55,250 55,250 55,250 165,750 Sales Commissions 233,550 233,550 233,550 233,550 Advertising 63,000 63,000 63,000 63,000 Property Taxes 30,000 30,000 30,000 30,000 Rent 135,000 135,000 135,000 135,000 Salaries & Wages 312,000 312,000 312,000 312,000 Equipment Purchase 134,000 Income tax Installment 8,000 Total Disbursements 208,020 607,280 Cash Excess (Deficiency) -97,171 Financing (Note 1) Borrow 128,000 Repayment of Principal (show as negative) -18,000 Net Financing 110,000 Cash Balance, Ending $ 25,135 Note 1: Financing Calculations Cash excess (Deficiency) -97,171 34,553 34,113 20,135 Minimum cash balance Amount to borrow (repay) Borrowing (Repayments) Rounded to increment of $1,000