Pegar NKS Copiar formato Portapapeles Fuente C33 x fr Combinary cente Alineacin 10 11 12 19 14 16 37 20 39 Problem Set 2. (20 points) 1. Fill out the blanks in color. If no answer key is needed, just leave the blank 2. Each cell MUST include a formula, link, or a working process. (except for the given number from the questions) 3. Directly typing anly the answers on the cell won't get the full credits. (except for given mumbers from the questions) Sharing answers and files will result in the Zero Grade both giver and receiver. (Plagiarism will be checked) Sarah Kim is the manager of an airport gift shop, P&S Inc. From the following data, Sarah wants a cash budget showing expected cash receipts and disbursement for the month of April, and the cash balance expected us of April 30, 2017 Additional Information Ending cash balance, March 31, 2017: $100,000 h. Sales for Arpil $1,000.000; Sales for March $1,200,000, 60% collected in month of sale, 40% in next month Accounts payable, March 31: $460,000 Merchandne purchases for April: $450,000, 40% paid in month of purchase, 60% paid in next month Payrolls paid in April: $90.000 Other operating expenses for April paid in April 545,000 Accrued taxes for April, payable in June: $75,000 h. Depreciation expense for April: $10,000 urance expense $1,000 for April: one year insurance policy due December 31, 20x7 for $12.000 prepaid in cash on January 1, 2017 Bank loan balance on April 30: $300,000 and can borrow and repay loans only in multiples of $30,000. Assume that borrowings occur at the beginning and repayments occur at the end of the month Repayment must be made at maximum amount if net cash from operating is available interest of 2% per month is paid in cash at the end of each month & Cash balance must maintain a minimum $300,000 at the end of each month for operating purposes Requirement 1. Prepare the cash budget for the month ending April 30, 20x7 P&S Inc. Cash Budget for the Month Ending April 30 Beginning Cash balance, April 1, 2007 Les Minimum cash balance desired Available cash balance Collection from atom from April sales Marsh sales Totalcash collection Cash Dotunements for Purchases Merchandise purchased (5) Payment on Accounts Payable 43 Total cash Dubursemeen for Purchases Couh Disbursements for Operating expenie Tal Cadi durament for Operaming Expenses 48 tch recept and dubur Cash from Financing brom operating Pla Sowing at the beginning of the month payment of toen at the end of the mond final cash intressedectuse) from financing Ending Cad, April 30, 20 Requirement 2. Would the company be able to maintain the ending balance of cash at least over $100,000 at the end of April? Analyze the cash budget of April in sperating and finance Pants G