Newman Medical Clinic has budgeted the following cash flows. January February March Cash receipts $ 101,000 $ 107,000 $ 127,000 Cash payments For inventory purchases 90,500 72,500 85,500 For S&A expenses 31,500 32,500 27,500 Newman Medical had a cash balance of $8,500 on January 1. The company desires to maintain a cash cushion of $6,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 2 percent per month. Repayments may be made in any amount available. Newman pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this years quarterly results. Required: Prepare a cash budget. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest dollar amount.)