Party Time Inc. needs your help to create some of its budgets for the year. All of the firm's party favor pirate chest" boxes include 6 gold coins. Its partially completed sales budget for its party favor boxes is as follows: Party Time Inc. Sales Budget For the Year Ended Dec. 31, 2020 (weddings!) (Christmas!) Q1 Q2 Q3 Q4 Yearly Total 10,500 ? 13,300 ? ? 5.50 $ 5.50 $ 5.50 $ 5.50 ? 57,750 66,000 $ 73,150 $ 77,000 $ 273,900 Budgeted unit sales Budgeted sales price Budgeted sales revenue $ $ Party Time Inc. maintains ending finished goods inventory equal to 8% of the budgeted sales for the next quarter. The firm wants 750 finished boxes in its warehouse at the end of Q4. Party Time Inc. also maintains its ending inventory of gold coins to be equal to 5% of the next quarter's production needs. The firm wants to end Q4 with 3,200 gold coins. 5) Looking ahead, assume the following for April & May... Total expenses (including RM cash purchases) are expected to be $19,000 in April and $12,000 in May. Total expenses include $1,500 of depreciation expense each month, while all other expenses included are paid in cash. The firm wishes to maintain a minimum cash balance of $20,000 each month in the coming year. Party Time borrows from its bank in increments of $2,500 in order to maintain its desired cash balance, and no interest is charged if a loan is repaid within one month. Calculate the ending cash balance for April and May using this information. Please show your work! April May Beginning Cash Balance $20,000 Cash Collections $14,800 $17,200 Total Cash Payments Balance before financing Amount Borrowed or Repaid Ending Cash Balance