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The Thunder Dan's Corporation's purchases from suppliers in a quarter are equal to 65 percent of the next quarter's forecasted sales. The payables period is

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The Thunder Dan's Corporation's purchases from suppliers in a quarter are equal to 65 percent of the next quarter's forecasted sales. The payables period is 60 days. Beginning accounts payables is $200. Wages, taxes, and other expenses are 16 percent of sales, and interest and dividends are $60 per quarter. No capital expenditures are planned. Sales for the first quarter of the following year are projected at $720. The receivables period is 45 days. Beginning accounts receivables is $150. Initial cash balance is $70, the corporation requires a minimum cash balance of $50. The projected quarterly sales are: Sales Q1/$690 Q2/$660 Q3/$590 Q4/$560 Based on the information, please construct the cash budget table for the following 4 quarters. Please indicate if the short term financing is needed

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