The accountant for Bairds Dress Shop prepared the following cash budget. Bairds desires to maintain a cash cushion of $16,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month.

Required

1. Complete the cash budget by filling in the missing amounts.

2. Determine the amount of net cash flows from operating activities Bairds will report on the third quarter pro forma statement of cash flows.

3. Determine the amount of net cash flows from financing activities Bairds will report on the third quarter pro forma statement of cash flows.

Complete the cash budget by filling in the missing amounts. (Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.)

Cash Budget	July	August	September
Section 1: Cash receipts
Beginning cash balance	$43,500
Add cash receipts	182,000	202,000	242,600
Total cash available	225,500
Section 2: Cash payments
For inventory purchases	166,526	141,230	175,152
For S&A expenses	55,500	61,560	62,432
For interest expense	0
Total budgeted disbursements	222,026
Section 3: Financing activities
Surplus (shortage)	3,474
Borrowing (repayments)	12,526
Ending cash balance	$16,000	$16,000	$16,000

Determine the amount of net cash flows from both operating and financing activities Baird's will report on the third quarter pro forma statement of cash flows. (Round intermediate calculations and final answers to the nearest whole dollar amount.)

Net cash (operating activities)
Net cash (financing activities)