Stuart Medical Clinic has budgeted the following cash flows: uary February March $115,000 $121,000 $141,000 Cash receipts Cash payments For inventory purchases For S&A expenses 97,500 79,50892,588 38,500 39,580 34,580 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 doller amounts Any repayments/shortage should be indicated with a minus sign.) Budget January February Match Required Prepare a cash budget. (Round intermediote and final answers to the nearest whole doller amounts. Any repayments/shortage should be indicated with a minus sign.) Cash Budget January March Beginning cash balance Add: Cash receipts Cash available Less Cash payments $15,500(5,900)$(3,900) 141,000 137.100 121,000 115,100 115,000 130,500 97,500 38,500 400 79.500 92,500 For inventory purchases For S&A expenses Interest expense per month 39,500 Total budgeted payments 136,400 119,000 127.000 Payments minus receipts Financing Activity Ending cash balance (3.900) 10,100 Surolus (shortage) (6 900) 3 900) Borrowing (repayment) S(5,900) S(3,900) 10,100