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