Use the following information to prepare the September cash budget for PTO Company. Ignore the "Loan activity" section of the budget. a. Beginning cash balance, September 1, $46,000. b. Budgeted cash receipts from September sales. $257,000. c. Direct materials are purchased on credit. Purchase amounts are August (actual), $77,000, and September (budgeted), $109,000. Payments for direct materials follow: 65% in the month of purchase and 35% in the first month after purchase. d. Budgeted cash payments for direct labor in September, $39,000. e. Budgeted depreciation expense for September, $3,000. f. Budgeted cash payment for dividends in September, $55,000. g. Budgeted cash payment for income taxes in September, $10,900. h. Budgeted cash payment for loan interest in September, $1,600.1 PTO COMPANY Cash Budget September Beginning cash balance $ 46,000 Add: Cash receipts from sales 257,000 Total cash available 303,000 Less: Cash payments for Direct materials Direct labor Dividends Income taxes Interest on loan