On March 1 of the current year, Scooter's Catch-A-Ride Corporation compiled information to prepare a cash budget for March, April, and May. All of the company's sales are made on account. The following information has been provided by Scooter's management: The company's collection activity on credit sales historically has been as follows: Scooter's total cash expenditures for March, April, and May have been estimated at 1,488,000 (an average of 496,000 per month). Its cash balance on March 1 of the current year is 240,000. No financing or investing activities are anticipated during the second quarter. - Compute Spicer's budgeted cash balance at the ends of March, April, and May - What conclusions can you extract from the cash forecast for the next quarter? - How can the cash forecast be improved? (reporting and analysis)