Please show calculations of how you got the numbers especially for the beginning cash balance of the 3rd and 4th quarter!

You have been hired by Ashton Corporation, a retailer, to assist in preparing the annual cash budget. The following information is available regarding the quarterly budgeted cash flows Arte Quarter Total can receipts $290,000 $10,000 340,000 $360,000 Total durants 351,066 321,000 311,000 31.000 The company's beginning cash balance for the upcoming fiscal year will be $47.000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year (Cash deficiency, repayments and interest should be Indicated by a minus sign Ashton Corporation Cuth Budget 1st Quarter and Quarter Sed Quartar en Quarter inning alance Tak cipta Totalcavitalo 0 0 o o Total disbursement Excficiency of contable over disbursements 0 0 0 0 Tuning En be O 9 5 $ You have been hired by Ashton Corporation, a retaller, to assist in preparing the annual cash budget. The following Information is available regarding the quarterly budgeted cash flows: It Quarter 2nd Quarter Quarterth Quarter $ 290,000 $410,000 total cash disbursements $ 351,000 $321,000 $311,000 $331,000 Total cash receipta $ 340,000 $360,000 The company's beginning cash balance for the upcoming fiscal year will be $47000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly Interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year (Cash deficiency, repayments and interest should be Indicated by a minus sign.) Year Ashton Corporation Cash Budget 1st Quarter 2nd Quarte Ord Quarter 4th Quarter Beginning cash balance Total cash roonipit Total cash available 0 0 0 0 Total cash disbursements Exo (deficiency) of cash available over disbursements 0 0 0 0 Financing Borrowing Repayments Interest 0 0 Total financing $ os $ Ending cosh balance 0 0 S