The accountant for Ericas Dress Shop prepared the following cash budget. Ericas desires to maintain a cash cushion of $23,000 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 2 percent per month.

Required

a.

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

b.

Determine the amount of net cash flows from operating activities Ericas will report on the third quarter pro forma statement of cash flows. (Enter any cash outflows with a minus sign. Round intermediate calculations and final answer to the nearest whole dollar amount.)

c.	Determine the amount of net cash flows from financing activities Ericas will report on the third quarter pro forma statement of cash flows. (Enter any cash outflows with a minus sign. Round intermediate calculations and final answer to the nearest whole dollar amount.)

August September Cash Budget July Section 1: Cash receipts Beginning cash balance 47.000 Add cash receipts 189,000 209,000 249,600 236,000 Total cash available Section 2: Cash payments For inventory purchases 170,026 144,730 178.652 59,000 65,060 65,932 For S&A expenses 0 For interest expense Total budgeted disbursements 229,026 Section 3: Financing activities Surplus (shortage) 6,974 16,026 Borrowing (repayments) 23,000 23,000 S 23,000 Ending cash balance