Pare Communications, Inc., is preparing its cash budget for the year ending December 31, 2017. Pare ended 2016 with cash of $69 million and managers need to keep a cash balance of at least $66 million for operations. Collections from customers are expected to total $11,329 million during 2017, and payments for the cost of services and products should reach $6,187 million. Operating expense payments are budgeted at $2,556 million. During 2017, Pare expects to invest $1,822 million in new equipment and sell older assets for $142 million. Debt payments scheduled for 2017 will total $541 million. The company forecasts net income of $898 million for 2017 and plans to pay dividends of $324 million. Requirement 1. Prepare Pare Communications' cash budget for 2017. Will the budgeted level of cash receipts leave Pare with the desired ending cash balance of $66 million, or will the company need additional financing? If so, how much? Begin with Pare Communications' cash budget for 2017. (Include the first four values in the first subtotal calculation. Enter amounts in millions as provided to you in the problem statement. If a box is not used in the table leave the box empty; do not select a label or enter a zero. Use a minus sign or parentheses for any negative cash balances or for any "cash needed" amounts.) Pare Communications, Inc. Cash Budget Year Ended December 31, 201 (In millions) Choose from any list or enter any number in the input fields and then continue to the next question. Pare Communications, Inc., is preparing its cash budget for the year ending December 31, 2017. Pare ended 2016 with cash of $69 million and managers need to keep a cash balance of at least $66 million for operations. Collections from customers are expected to total $11,329 million during 2017, and payments for the cost of services and products should reach $6,187 million. Operating expense payments are budgeted at $2,556 million. During 2017, Pare expects to invest $1,822 million in new equipment and sell older assets for $142 million. Debt payments scheduled for 2017 will total $541 million. The company forecasts net income of $898 million for 2017 and plans to pay dividends of $324 million. Requirement 1. Prepare Pare Communications' cash budget for 2017. Will the budgeted level of cash receipts leave Pare with the desired ending cash balance of $66 million, or will the company need additional financing? If so, how much? hoose from any list or enter any number in the input fields and then continue to the next question. Pare Com with cash of $69 million and managers need to keep a cash balance of at least $66 million for operations. Collections from customers are expected to total $11,329 million during 2017, and payments for the cost of services and products munications, Inc., is preparing its cash budget for the year ending December 31, 2017. Pare ended 2016 should reach $6,187 million. Operating expense payments are budgeted at $2,556 million. During 2017, Pare expects llion in new equipment and sell older assets for $142 million. Debt payments scheduled for 2017 will total $541 million. The company forecasts net income of $898 million for 2017 and plans to pay dividends of $324 million Requirement 1. Prepare Pare Communications' cash budget for 2017. Will the budgeted level of cash receipts leave Pare with the desired ending cash balance of $66 million, or will the company need additional financing? If so, how much? Will the budgeted level of cash receipts leave Pare with the desired ending cash balance of $66 million, or will the company need additional financing? If so, how much? (Enter the dollar value as a positive number.) Based on the cash budget prepared above, Pare expects of million during 2017 Choose from any list or enter any number in the input fields and then continue to the next