Wildcast, Inc., has estimated sales (in millions) for the next four quarters as follows:

Q1 Q2 Q3 Q4

Sales $170 $185 $200 $225

Sales for the first quarter of the following year are projected at $180 million. Accounts recievable at the beginning of the year were $71 million. Wildcat has a 45-day collection period.

Wildcats purchases from suppliers in a quarter are equal to 45 percent of the next quarters forecast sales, and suppliers are normally paid in 36- days. Wages, taxes, and other expenses run about 25 percent of sales. Interest and dividends are $14 million per quarter.

Wildcat plans a major capital outlay in the second quarter of $85 million. Finally, the company started the year with $54 million cash balance and wishes to maintain a $30 million minimum balance.

Compute the Net Cash Flows in Excel usin appropriate formulas when necessary.