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Daly Company has gathered the following information: May 30 ending cash balance Dividends paid in June Cash expenditures in June for operating expenses Depreciation expense in June Cash collections in June Merchandise purchases paid in cash in June Purchase equipment for cash in June $45,000 $12,000 $36,800 $4,500 $89,000 $56,200 $17,500 Daly Company desires to keep a minimum cash balance of $10,000. Required: Prepare a cash budget for June, and indicate whether Daly Company meets minimum cash requirements