Question two ( 30 points) XYZ Co. has estimated sales (in millions) for the next four quarters to be as follows: Q1 160, Q2 175, Q3 190, Q4 215 (all in millions). Sales for the first quarter of the following year are projected at $170 million. Accounts receivable at the beginning of the year were $68 million. XYZ has a 45 -day collection period. XYZ's purchases from suppliers in a quarter are equal to 45 percent of the next quarter's forecast sales, and suppliers are normally paid in 36 days. Wages, taxes, and other expenses run about 25 percent of sales. Interest and dividends are $12 million per quarter. XYZ plans a major capital outlay in the second quarter of $75 million. Finally, the company started the year with a $49 million cash balance and wishes to maintain a $30 million minimum balance. B) Then complete the cash budget for XYZ below based on your answers in part (a) \begin{tabular}{|l|l|l|l|l|} \hline & Q1 & Q2 & Q3 & Q4 \\ \hline Beginning cash balance & & & & \\ \hline Net cash inflow & & & & \\ \hline Ending cash balance & & & & \\ \hline Minimum cash balance & & & & \\ \hline Cumulative surplus (deficit) & & & & \\ \hline \end{tabular}