Torts Test DUE MAR 3 114 points Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of ts budgeted cash flows 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts Total cash disbursements $350,000 $470,000 $400,000 420,000 $393,000 $363,000 $353,000 $373,000 The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any quarterty interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Complete the company's cash budget for the upcoming fiscall year. (Cash deficiency, repayments, an d interest, should be Indicated by a minus sign) Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Qua Beginning cash balance Total cash receipts Total cash available Less total cash disbursements Excess (deficiency) of cash available over disbursements Financing 20,000 $ 10,000 $ 82,0af $129,020 350,000 370,000 480,000 482,020 549,020 1,840,000 393,000 470,000 400,000 420,000 1,640,000 363,000 353,000 373,000 1,482,000 17000 129,020 176,020 158,000 (23,000) 33,000 (33,000) (1.980) 0(1,980) 82,020 $ 129,020 $ 176,020 $ 156,020 33,000 (33,000) (1,980) Interest Total financing Ending cash balance 33,000 (34.980) 10,000