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, $44,000. b. Budgeted cash receipts from September sales, $258.000. c. Direct materials are purchased on credit. Purchase amounts are August (actual). $73,000, and September (budgeted), $101,000. Payments for direct materials follow: 70% in the month of purchase and 30% in the first month after purchase. d. Budgeted cash payments for direct labor in September, $35,000. e. Budgeted depreciation expense for September, $3,700. f. Budgeted cash payment for dividends in September, $51.000. g. Budgeted cash payment for income taxes In September, $10,700. h. Budgeted cash payment for loan interest in September. $1,100. PTO COMPANY Cash Budget September Beginning cash balance i Add Cash receipts from sales Total cash available Less Cash payments for Direct materials Direct labor 0