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Suppose a company has an info processing Division that provides database management services for the professional photographers who buy its frames. The division uses state-of-the-art equipment and employs five information specialists. Each specialists works an average of 160 hours a month. The division's controller has compiled the following information. Of the client, 60 percent are collected during the month of sale, 30 percent are collected in the first month following the sale, and 10 percent are collected in the second month following the sale. Operating supplies are paid for in the month of purchase. Selling and administrative expense and processing overhead are paid in the month following the cost's incurrence. The division has a bank loan of $12,000 at a 12 percent annual interest rate. Interest is paid monthly, and $2,000 of the loan principal is due on February 28th of next year. Income taxes of $4,550 for this calendar year are due and payable on March 15 of next year. The information specialists earn $8.50 an hour, and all payroll-related employee benefit costs are included in processing overhead. The division anticipates no capital expenditures for the first quarter of the coming year. It expects its cash balances on December 31 of this year to be $13,840. Required Prepare a monthly cash budget for the into processing Division for the three-month period ending March 31 of next year. Include each month of the quarter total column. Comment on whether the ending cash balance are adequate for the division's needs