Stuart Medical Clinic has budgeted the following cash flows: January $115,000 February $121,000 March $141,000 Cash receipts Cash payments 97,500 38,500 79,500 39,500 92,500 34,500 For S&A expenses Stuart Medical had a cash balance of $15,500 on January 1. The company desires to maintain a cash cushion of $8,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1 percent per month. Repayments may be made in any amount available. Stuart pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results. Required Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign.) Cash Budget January February March Cash available Less: Cash payments Total budgeted payments Payments minus receipts Financing Activity