Wildcat, Inc, has estimated sales (in miliions) for the next fourquarters as follows: Q1 Q2 Q3 Q4 Sales $210 $180 $245 $280 Sales for the 1st Q of the year after this one are projected at$240 million.Accounts receivable at the beginning of the year were$68 million. Wildcat has a 45-day collection period. Wildcats purchases from suppliers in a Q are equal to 45% of thenext Q forecast sales, and suppliers are normally paid in 36 days.Wages, taxes, and other expenses run about 25% of sales, Interestand dividends are $12 million per Q. Wildcat plans a major capital outlay in the 2nd Q of $80 million.FInally, the company started the year with a $64 million cashbalance and wishes to maintain a $30 million minimum balance. A. Complete a cash budget for Wildcat by filling in thefollowing: QT1 QT2 QT3 QT4 Target cashbalance $30 ? ? ? Net cashinlow ? ? ? ? Ending cashbalance ? ? ? ? Minimum cash balance $30 ? ? ? ------------------------------------------------------------------- Cumulative surplus(deficit) ? ? ? ? B. Assume that Wildcat can borrow any needed funds on a short-termbasis at a rate of 3% per QT and can inves any excess funds inshort-term marketable securities at a rate of 2% per quarter.Prepare a short-term financial plan by filling in the followingschedule. WHat is the net cash cost (total interest paid minustotal investment income earned) for the year? Wildcat,Inc-Short-term Financial Plan (in millions) Q1 Q2 Q3 Q4 Target cashbalance $64 ? ? ? Net cash inflow New short-term Investments Income from short-term investments Short-term investments sold New short-term borrowing Interest on short-term borrowing Short-term borrowing repaid Ending cash balance Minimum cash balance Cumulative surplus(deficit) $30 Beginning short-term investments Ending short-term investments Beginning short-term debt Ending short-term debt All ( above) quarters for each category are supposed to be filledin