Stuart Medical Clinic has budgeted the following cash flows JanuaryFebruary March Cash receipts Cash payments $115,000 $121,000 $141,000 For inventory purchases For S&A expenses 97,500 38,500 79,500 39,500 92,500 34,500 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. Answer is not complete. Cash Budget January February March Beginning cash balance Add: Cash receipts Cash available Less: Cash payments 15,5(5,899) $ (4,299) 115,000121,000 141,000 115,101 130,500 136,701 97,500 79,500. 92,500 For inventory purchases For S&A expenses Interest expense per month 38,500 400 39,500 400 34,500 400 Total budgeted payments Payments minus receipts 136,400 119,400 127,400 (5,900) 9,301 Surplus (shortage) Financing Activity (4,299) Ending cash balance (5,899) (4,299) 9,302