prepare cash budget. instructions provided in the attachment. i can only pay $6. its only one question. due in 20 hours

Problem 7-6A You are provided with the following information taken from Langerhan Inc.'s March 31, 2014, balance sheet. Cash $ 12,321 Accounts receivable 21,106 Inventory 36,816 Property, plant, and equipment, net of depreciation 122,503 Accounts payable 22,456 Common stock 151,830 Retained earnings 12,474 Additional information concerning Langerhan Inc. is as follows. 1. 2. 3. Gross profit is 25% of sales. Actual and budgeted sales data: March (actual) April (budgeted) $48,468 70,918 Cash collections expected in April are: March $19,387 (40% of $48,468) April 42,551 (60% of $70,918) $61,938 4. Half of a month's purchases are paid for in the month of purchase and half in the following month. Cash disbursements expected in April are: Purchas $22,4 es 56 March Purchas 28,92 es April 5 $51,3 81 5. 6. 7. Cash operating costs are anticipated to be $12,214 for the month of April. Equipment costing $2,876 will be purchased for cash in April. The company wishes to maintain a minimum cash balance of $12,622. An open line of credit is available at the bank. All borrowing is done at the beginning of the month, and all repayments are made at the end of the month. The interest rate is 14% per year, and interest expense is accrued at the end of the month and paid in the following month. Prepare a cash budget for the month of April. Determine how much cash Langerhan Inc. must borrow, or can repay, in April