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

Q$1$ Q$2$ Q$3$ Q$4$

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.

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 $20$ 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 $$40$ million.