.Wildcat, Inc., has estimated sales (in millions) for the next four quarters as follows: Q1 Q2 Q3 Q4 Sales $160 $175 $190 $215 Sales for the first quarter of the year after this one are projected at $170 million. Accounts receivable at the beginning of the year were $68 million. Wildcat has a 45day 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 $12 million per quarter. Wildcat plans a major capital outlay in the second quarter of $75 million. Finally, the company started the year with a $64 million cash balance and wishes to maintain a $40 million minimum balance

Assume that Wildcat can borrow any needed funds on a shortterm 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. Complete the following shortterm financial plan for Wildcat

Q1 Target cash balance $40 Q2 40 Q3 40 Q4 40

Net cash inflow

New shortterm investments

Income on shortterm investments

Short term investments sold

new short term borrowing

interest on short term borrowing

Short term borrowing repaid

ending cash balance

minimum cash

cumulative surplus

beginning short term investments

ending short term investments

beginning short term debt

ending short term debt