SAVE & Exit Sub Check my work Exercise 14-13 Preparing a cash budget LO 14.5 The accountant for Solomon's Dress Shop prepared the following cash budget. Solomon's desires to maintain a cash cushion of $18,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required a. Complete the cash budget by filling in the missing amounts. b. Determine the amount of net cash flows from operating activities Solomon's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Solomon's will report on the third quarter pro forma statement of cash flows. Complete this question by entering your answers in the tabs below. Reg A Reg B and C A 3/23/2020 w WA WWW WW Req A Req B and C Complete the cash budget by filling in the missing amounts. (Any shortages or repayments should be indicate sign. Round your answers to the nearest whole dollar amount.) July August September $ 49,500 194,000 243,500 $ 194,000 214,000 254,600 Cash Budget Section 1: Cash receipts Beginning cash balance Add cash receipts Total cash available Section 2: Cash payments For inventory purchases For S&A expenses For interest expense Total budgeted disbursements Section 3: Financing activities Surplus (shortage) Borrowing (repayments) Ending cash balance 172,526 61,500 147,230 181,152 67,56068,432 234,026 9,4741 8,526 18,000 $ $ 18,000 $ 18,000 e 30V & Exit Sut Reg A Reg Band Check my work Determine the amount of net cash flows from both operating and financing activities Solomon's will report on the third quarter pro forma statement of cash flows. (Round intermediate calculations and final answers to the nearest whole dollar amount.) 5. Net cash (operating activities) C. Net cash (financing activities)