Question (2) (10 Points ): The following information was available to Sam. Company 1- Sales at March was $ 40,000 2- Sales forecasted as follows: April $100,000 - May 100,000 - June 150.000- July 200,000 - August 300,000 3. The cash sales equals 50%, credit sales 50% collected equally in the following two months following the month of sale 4. Cost of goods sold equals 50% of the total sales and End, inventory valued at $10,000 plus 80% of the expected cost of goods sold for the same month 5. Purchases payments 50% during 25 days at the same month of purchases and 50% in the next month .credit purchases for Mar was $10,000 6. Monthly operating expenses $ 36.000 per month including Depreciation expense $ 1.000 7- Beg. Cash balance for April $ 10,000 and the minimum cash balance $10,000 Required Prepare the Cash Budget for the second quarter and the company will borrowing to covers any shortage