Piano Man, Inc., has a 32-day average collection period and wants to maintain a minimum cash balance of $20 million, which is what the company currently has on hand. The company currently has a receivables balance of $218 million and has developed the following sales and cash disbursement budget in millions:

ales	$378	$468	$570	$522
Total cash disbursement	318	408	726	450

Complete the following cash budget for the company. What conclusions do you draw?

PIANO MAN, INC. Cash Budget (in millions)
	Q1	Q2	Q3	Q4
Beginning receivables
Sales
Cash collections
Ending receivables
Total cash collections
Total cash disbursements
Net cash inflow
Beginning cash balance
Net cash inflow
Ending cash balance
Minimum cash balance
Cumulative surplus (deficit)