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, $43,000. b. Budgeted cash receipts from September sales, $264,000. c. Direct materials are purchased on credit. Purchase amounts are August (actual), $73,000; and September (budgeted). $109,000. Payments for direct materials follow: 60% in the month of purchase and 40% in the first month after purchase d. Budgeted cash payments for direct labor in September, $31,000. e. Budgeted depreciation expense for September, $3,200, f. Budgeted cash payment for dividends in September, $52,000. g. Budgeted cash payment for income taxes in September, $10,200. h. Budgeted cash payment for loan interest in September, $1,200, PTO COMPANY Cash Budget September Beginning cash balance Add: Cash receipts from sales Total cash available 0 Less: Cash payments for Direct labor Direct materials -S 0 Interest on loan Total cash payments Ending cash balance $ 0