The accountant for Munoz's Dress Shop prepared the following cash budget. Munoz's desires to maintain a cash cushion of $24,000 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 3 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 Munoz's will report on the third quarter pro forma statement of cash flows.
3. Determine the amount of net cash flows from financing activities Munoz's will report on the third quarter pro forma statement of cash flows.

Req A Req B and C 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 $ 47,500 $ 24,000 $ 24,000 Add cash receipts 190,000 210,000 250,600 Total cash available 237,500 234,000 274,600 Section 2: Cash payments For inventory purchases 170,526 145,230 179,152 For S&A expenses 59,500 65,560 66,432 For interest expense 0 Total budgeted disbursements 230,026 Section 3: Financing activities Surplus (shortage) 7,474 Borrowing (repayments) 16,526 Ending cash balance $ 24,000 $ 24,000 $ 24,000Req A Req B and C Determine the amount of net cash flows from both operating and financing activities Munoz'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.) b. Net cash (operating activities) C. Net cash (financing activities)