Take me to the text Candice Inc. provides you with the following budgeted information for two months in year 2019: Sales Manufacturing Costs Capital Expenditures* March April $620,000 $695,000 210,000 310,000 90,000 50,000 General and Administration Costs (including amortization) 60,000 125,000 "includes training programs, machines and buildings Expectations: Cash sales represent 5% of total sales All sales on account are collected in the following month 50% of March's $90,000 worth of capital expenditures is to be paid at the end of March. The remainder is to be paid in the following month. April's capital expenditure will be paid in May. Monthly amortization represents 20% of general and administration costs Manufacturing costs and general and administration costs are to be paid in the month in which they are incurred Dividends of $7,000 are expected to be declared in March and paid in April Candice Inc. obtains the minimum financing needed to ensure at least a $6,000 cash balance at the end of the month through a bank loan. Assume that any amount taken out of the bank loan may be repaid only at year end. As of March 1 Cash $21,000 Accounts Receivable" 154,000 Inventory 120,000 Long-Term Assets 110,000 Accumulated Depreciation 8,000 Accounts Payable 8,000 Accounts Payable Dividends Payable (in March) Notes Payable Stockholder's Equity 8,000 3,000 265,000 119,000 "Comprised only of sales on account incurred in February Do not enter dollar signs or commas in the input boxes. Use the negative sign for negative values. Prepare a cash budget for March and April. Candice Inc. Cash Budget for March and April March Opening Cash Balance $21000 April $6000 Receipts: Cash from sales 31000 $34750 Collection from customers $154000 $589000 Total cash available: $206000 $629750 Disbursements: Manufacturing costs $210000 $310000 General and admin. costs $48000 $100000 Capital Expenditures $45000 $45000 Dividend Payment $3000 7000 Total Cash Payments $306000 462000 Total Cash Payments $306000 $462000 Cash Excess (Deficit) $-100000 $167750 Financing Requirements: Notes Payable Loan Repayment Ending Cash Balance $6000 $167750