need to borrow money? (yes or no)

Cola Corporation has the following budget data for the month of February 2022. Budget: Target quantity to be sold 1100 units January 31, 2021 Ending $67,000 Inventory (800 units) February 28, 2022 Ending $51,500 Inventory (600 units) Direct Material Budget $35 per unit $215 per Direct Labor Budget unit $200 per unit Variable Mfg. Overhead Budget Fixed Mfg. Overhead Budget Depreciation Expense Budget $15,400 per month $54,000 Gen. Administrative Expense Budget $62,550 Selling Expense Budget $85,000 Rent Expense Budget $73,000 Salaries Expense Budget $118,450 Insurance Expense Budget $54,320 a. If the sales budget is based on a target gross margin of 63% of sales, how much is the Operating Income Budget? Fill in the blanks and use 2 decimal places. Sales CGS Gross Margin Operating Expenses Operating Income Cost of Purchases = b. Cash balance by Feb 1, 2021 is expected at 185000, while total cash receipts for Feb 2022 is at 730000. Calculate the ending cash balance before financing. Use 2 decimal places. Cash Payments = Ending Cash Balance Before Financing = c. If the minimum cash balance is set at $100,000, will Cola Corp. Is there a need to borrow money for the year? Ending Cash Balance Before Financing - Minimum Cash Balance =