Protect U is a manufacture of protective equipment used by medical personnel and first responders. In late February, they began to revise their cash budget once news of COVID-19 began to circulate. In addition to their regular expenses, they will need to rent additional space to manufacture their products. They will pay for extraordinary rental expense in May ($30,000) and June ($20,000). March April May June Total cash receipts from all $300,000 $500,000 $550,000 $400,000 sales Cash disbursements for ordinary purchases and $390,000 $520,000 $530,000 $390,000 expenses Extraordinary Expenses for $30,000 $20,000 building Rental The company's cash balance on February 29, 2020, is expected to be $12,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a monthly interest rate of 12%. Because of the potential crisis, the company has an unlimited line of credit. The company must borrow any amount at the beginning of any month and may repay its loans, or any part of its loans, at the end of any month. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Prepare a cash budget for March April May, and June (you only need to prepare the cash budget including the financing section.) Indicate the ending cash balance on June 30 in the space below. (10 POINTS) Indicate the ending loan balance on June 30 in the space below. (10 POINTS) Upload your Cash Budget IN GOOD FORM (20 POINTS) ce on June 30 in the space below. (10 POINTS) Upload your Cash Budget IN GOOD FORM (20 POINTS) Question 1 10 pts What is the ending cash balance on June 30? Question 2 10 pts What is the ending loan balance on June 30 (ignore any accrued interest) Question 3 30 pts Upload your cash budget in good form. Upload Choose a File