Question 4: [Total: 20 marks] Part A (5 marks) NIB Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2020. All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere. Beginning cash balance $ 30,000 Required minimum cash balance 25,000 Payment of income taxes (2nd quarter) 4,000 Professional salaries: Ist quarter 140,000 2nd quarter 140,000 Interest from investments (2nd quarter) 7.000 Overhead costs: Ist quarter 77,000 2nd quarter 100,000 Selling and administrative costs, including $2.000 depreciation: 1st quarter 50,000 2nd quarter 70.000 Purchase of equipment (24 quarter) 50,000 Sale of equipment (1* quarter) 12,000 Collections from patients: 1" quarter 235,000 204 quarter 380,000 Interest payments (2 quarter) 200 Requirement: Prepare a cash budget for each of the first two quarters of 2020 for NIB Dental Clinic