Prepare a cash budget for the month of April. Determine how much cash Langerhan Inc. must borrow, or can repay, in April.

You are provided with the following information taken from Langerhan Inc.'s March 31, 2014, balance sheet. Cash Accounts receivable Inventory Property, plant, and equipment, net of depreciation Accounts payable Common stock Retained earnings $ 11,913 23,985 37,164 120,215 22,783 151,823 12,295 Additional information concerning Langerhan Inc. is as follows. Gross profit is 25% of sales Actual and budgeted sales data: March (actual) April (budgeted) 2. $48,404 73,475 3 Cash collections expected in April are: March April $19,362 44,085 $63,447 (40% of $48,404) (60% of $73,475)