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April S 43,2e June Cash Receipts S 24,ae 255,ae 275,ae Selling & Administrative Expenses S 92, eza 82, aea 77, aea manufacturing Cwerhead se,4e 52, 56,e Direct Labor 45, gee 49,5e Direct Materials Purchases S 74,4ae 79, ese 85,2se Manufacturing overhead includes depreciation of S12,OOO per month. There is no depreciation included in the selling end administrative expenses. All expenses ere paid in the month they ere incurred Cash et the beginning of the period was $20,000. The compeny wants to maintain e minimum cash balance of $20,000. There were no loons outstanding on May 1. The line of credit with the bank allows for borrowings and repayments in $1,000 increments. Ifthe loan is paid off by the end of the quarter, there is no interest. Required: e. Prepare the cash budget for the quarter ending June 30. Note: Deductible values end negative values should be indicated with minus sign. ss.e ncorpo Cash Budget For the Quarter Ending June 30 Beginning cash balance Plus: Budgeted cash receipts Less: Budgeted cash payments for Selling & administrative expenses Manufacturing overhead (less depreciation') Direct labor Direct materials purchases Cash balance before financing Cash borrowed or (repaid) Ending cash balance b. What is the expected amount of cosh to be shown on the balance sheet at the end of the quarter?