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

	Q1	Q2	Q3	Q4
Sales	$210	$180	$245	$280

Sales for the first quarter 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.

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Complete question is on the attachment. Please show the calculation, thank you.

Wildcat, Inc., has estimated sales (in millions) for the next four quarters as follows: Sales Q1 $210 Q2 $180 Q3 $245 Q4 $280 Sales for the first quarter 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. Wildcat's purchases from suppliers in a quarter are equal to 45 percent of the next quarter's 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 $12 million per quarter. Wildcat plans a major capital outlay in the second quarter of $80 million. Finally, the company started the year with a $64 million cash balance and wishes to maintain a $30 million minimum balance. a. Complete a cash budget for Wildcat by filling in the following: Wildcat, Inc Cash Budget (in millions) Q1 Q2 Q3 Q4 Target cash balance $30 Net cash inflow Ending cash balance Minimum cash balance 30 Cumulative surplus (deficit) b. Assume that Wildcat can borrow any needed funds on a short-term basis at a rate of 3 percent per quarter, and can invest any excess funds in shortterm marketable securities at a rate of 2 percent per quarter. Prepare a short-term financial plan by filling in the following schedule. What is the net cash cost (total interest paid minus total investment income earned) for the year? Target cash balance Net cash inflow New short-term investment Income from short term investment Short-term investment sold New short-term borrowing Interest on shortterm borrowing Short-term borrowing repaid Ending cash balance Minimum cash balance Cumulative surplus (deficit) Beginning shortterm investment Ending short-term investment Beginning shortterm debt Ending short-term debt Wildcat, Inc Short-term financial plan (in millions) Q1 Q2 $64 30 Q3 Q4