Perry Company has gathered the following information: April 30, cash balance, Accounts Receivable, May 31 Dividends paid in May, Cash expenditures in May for operating expenses, Amortization expense in May, Cash collections in May, Bad Debts Expense Merchandise purchases paid in cash in May, Purchased equipment for cash in May, Accounts Payable, May 31 $90,000 32,000 $24,000 $73,600 $9,000 $178,000 $2,500 $112,400 $35,000 16,000 Perry desires to keep a minimum cash balance of $20,000. Required: Prepare a cash budget for May, and indicate whether or not Perry meets minimum cash requirements