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, $50,000. b. Budgeted cash receipts from September sales, $257,000. c. Direct materlals are purchased on credit. Purchase amounts are August (actual), $75,000; and September (budgeted), $101,000. Payments for direct materlals follow. 70% in the month of purchase and 30% in the first month after purchase. d. Budgeted cash payments for direct labor in September, $32000. e. Budgeted depreclation expense for September, $3,200 f. Budgeted cash payment for dividends in September, $55,000. g. Budgeted cash payment for income taxes in September. $10,500. h. Budgeted cash payment for loan interest in September, $1,400