Newman Medical Clinic has budgeted the following cash flows. January February March Cash receipts $109,000 $115,000 $135,000 Cash payments For inventory 94,500 76,500 89,500 purchases For S&A 35,500 36,500 31,500 expenses Newman Medical had a cash balance of $12,500 on January 1. The company desires to maintain a cash cushion of $8,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1 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 year's quarterly results. Required Prepare a cash budget. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) Cash Budget January February March $ 0 $ 0 Cash available 0 0 0 Less: Cash payments 0 0 0 Total budgeted payments Payments minus receipts 0 0 0 Financing Activity $ $ 0 $ 0 $ $ 0