Problem 18-16 Cash Management Policy [LO3] Wildcat, Incorporated, has estimated sales (in millions) for the next four quarters as follows:

Q1 Q2 Q3 Q4 Sales $ 165 $ 185 $ 205 $ 235

Sales for the first quarter of the following year are projected at $180 million. Accounts receivable at the beginning of the year were $71 million. Wildcat has a 45-day collection period. Wildcats purchases from suppliers in a quarter are equal to 45 percent of the next quarters forecast sales, and suppliers are normally paid in 36 days. Wages, taxes, and other expenses run about 20 percent of sales. Interest and dividends are $16 million per quarter. Wildcat plans a major capital outlay in the second quarter of $99 million. Finally, the company started the year with a $78 million cash balance and wishes to maintain a $40 million minimum balance.

a-1. Assume that Wildcat can borrow any needed funds on a short-term basis at a rate of 3 percent per quarter and can invest any excess funds in short-term marketable securities at a rate of 2 percent per quarter. Complete the following short-term financial plan for Wildcat. (Enter your answers in millions. Negative amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)