Newman Medical Clinic has budgeted the following cash flows. January February March $114,000 $120,000 $140,000 Cash receipts Cash payments For inventory purchases For S&A expenses 97,000 79,000 92,000 38,000 39,000 34,000 Newman Medical had a cash balance of $15,000 on January 1. The company desires to maintain a cash cushion of $7,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 3 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 Cash available Less: Cash payments Total budgeted payments Payments minus receipts Financing Activity