Reproduced below are selected financial data at the end of Year 6 and forecasts for the end of Year 7 for AlMasa Company:

Account	Year 6	Year 7 (Forecast)
Cash	$42,000	?
Accounts receivable	90,000	?
Inventory	38,400	$90,000
Fixed assets	120,000	120,000
Accumulated depreciation	25,800	30,000
Accounts payable	78,000	146,400
Notes payable	21,000	18,000
Accrued taxes	10,800	0
Capital stock	120,000	120,000

Additional forecast estimates for Year 7:

Sales $495,000 Net Income $12,000

Cost of sales 55% of sales forecast Days sales in receivables 60 days

Required:

Assuming all expenses are paid in cash when incurred and that cost of sales is exclusive of depreciation, forecast the ending cash balance for year 7. If AlMasa Company wishes to maintain a minimum cash balance of $60,000, must the company borrow?