Yem has $10,000 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yem has cash payments for selling and administrative expenses including salaries of $50,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $20,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yem need to borrow cash by the end of February? ... Begin by preparing the cash budget for January, then prepare the cash budget for February. (Complete all input fields. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar) - Data Table Yem Company Cash Budget Two Months Ended January 31 and February 28 January February Sales January February $ 533,000 S 566,000 443,000 502,900 Beginning cash balance 180,191 160,412 Cash receipts Cash available Cash payments Purchases of direct materials Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $900 per month) 134,620 112,626 55,714 53,124 Direct labor Manufacturing overhead Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Principal repayments Total effects of Ofinancing Ending cash balance Will Yem need to borrow cash by the end of February? Yem need to borrow cash by the end of February because the ending cash balance before financing is than the minimum cash balance required