Use the following information to complete the cash flow budget for June through September. Refer to Chapter 14 in the text for an explanation of the ratios given below. 0.5 Inventory Turnover Ratio = 12 Cost of Goods Sold = 50% of Sales Accounts Payable Turnover Ratio = 12 Accounts Receivable Ratio = 12 Sales = Half Cash, Half Credit Minimum Cash Balance = October Projected Sales = May Projected Sales = Cumulative Borrowings at End of May $ $ $ $ 0.5 30,000 400,000 300,000 20,000 Item June July August September Projected Sales $ 220,000 $ 210,000 $ 100,000 $ 75,000 Cash Outflows Cost of Goods Sold Pay Accounts Payable Pay Overhead Total Cash Outflow $ $ 150,000 45,000 $ 45,000 $ 45,000 $ 45,000 Projected Sales $ 220,000 $ 210,000 $ 100,000 $ 75,000 Cash Inflows Cash Sales Collect Accounts Receivable Total Cash Inflow $ 30,000 Beginning Cash Balance Total Cash Inflow Total Cash Available Total Cash Outflow Net Cash Needed Borrowings/Repayments Ending Cash Balance Cumulative Borrowings Use the following information to complete the cash flow budget for June through September. Refer to Chapter 14 in the text for an explanation of the ratios given below. 0.5 Inventory Turnover Ratio = 12 Cost of Goods Sold = 50% of Sales Accounts Payable Turnover Ratio = 12 Accounts Receivable Ratio = 12 Sales = Half Cash, Half Credit Minimum Cash Balance = October Projected Sales = May Projected Sales = Cumulative Borrowings at End of May $ $ $ $ 0.5 30,000 400,000 300,000 20,000 Item June July August September Projected Sales $ 220,000 $ 210,000 $ 100,000 $ 75,000 Cash Outflows Cost of Goods Sold Pay Accounts Payable Pay Overhead Total Cash Outflow $ $ 150,000 45,000 $ 45,000 $ 45,000 $ 45,000 Projected Sales $ 220,000 $ 210,000 $ 100,000 $ 75,000 Cash Inflows Cash Sales Collect Accounts Receivable Total Cash Inflow $ 30,000 Beginning Cash Balance Total Cash Inflow Total Cash Available Total Cash Outflow Net Cash Needed Borrowings/Repayments Ending Cash Balance Cumulative Borrowings