The accountant for Waltons Dress Shop prepared the following cash budget. Waltons desires to maintain a cash balance of $22,000 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

1. Complete the cash budget by filling in the missing amounts.
2. Determine the amount of net cash flows from operating activities Waltons will report on the third quarter pro forma statement of cash flows.
3. Determine the amount of net cash flows from financing activities Waltons 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. Note: Any shortages or repayments should be indicated with a minus sign. Roum amount. Cash Budget July August September Section 1: Cash receipts Beginning cash balance $ 51,500 Add cash receipts 198,000 218,000 258,600 Total cash available 249,500 Section 2: Cash payments For inventory purchases 174,526 149,230 183,152 For S&A expenses 63,500 69,560 70,432 For interest expense 0 238,026 Total budgeted disbursements Section 3: Financing activities Surplus (shortage) Borrowing (repayments) Ending cash balance 11,474 10.526 $ 22,000 $ 22,000 $ 22,000 Ron Band G