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

		Q1			Q2			Q3			Q4
Sales		$	165		$	185		$	205		$	235

Sales for the first quarter of the year after this one are projected at $180 million. Accounts receivable 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 forecasted sales, and suppliers are normally paid in 36 days. Wages, taxes, and other expenses run about 20 percent of sales. Interest and dividends are $16 million per quarter. Wildcat plans a major capital outlay in the second quarter of $99 million. Finally, the company started the year with a cash balance of $78 million and wishes to maintain a minimum balance of $30 million. a. Complete the following cash budget for Wildcat, Inc. (Enter your answers in millions. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

a. Complete the following cash budget for Wildcat, Inc. (Enter your answers in millions. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) WILDCAT, INC. Cash Budget (in millions) Q1 78.00 $ 02 to A A tal A Beginning cash balance Net cash inflow Ending cash balance Minimum cash balance Cumulative surplus (deficit) -30.00 -30.00 -30.00 la Io -30.00 GA I 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 short-term marketable securities at a rate of 2 percent per quarter. a. Complete the following cash budget for Wildcat, Inc. (Enter your answers in millions. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) WILDCAT, INC. Cash Budget (in millions) Q1 78.00 $ 02 to A A tal A Beginning cash balance Net cash inflow Ending cash balance Minimum cash balance Cumulative surplus (deficit) -30.00 -30.00 -30.00 la Io -30.00 GA I 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 short-term marketable securities at a rate of 2 percent per quarter