You are provided with the following information taken from Cullumber Inc's March 31, 2025, balance sheet. Cash Accounts receivable $11,610 22,920 Inventory 37,440 Property, plant, and equipment, net of depreciation 120,700 Accounts payable 23,340 Common stock 151,300 Retained earnings 12.240 Additional information concerning Cullumber Inc. is as follows. 1. Gross profit is 27% of sales. 2. Actual and budgeted sales data: March (actual) $46,700 April (budgeted) 71,900 3. Sales are both cash and credit. Cash collections expected in April are: March $18,680 (40% of $46,700) April 43,140 (60% of $71.900). $61,820 Half of a month's purchases are paid for in the month of purchase and half in the following month. Cash disbursements expecte Purchases March Purchases April $23,340 28,340 $51,680 5. Cash operating costs are anticipated to be $11.880 for the month of April. 6. Equipment costing $2,700 will be purchased for cash in April. 7. The company wishes to maintain a minimum cash balance of $12.060. An open line of credit is available at the bank. All borrowing is done at the beginning of the month, and all repayments are made at the end of the month. The interest rate is 12% per year, and interest expense is accrued at the end of the month and paid in the following month. Prepare a cash budget for the month of April. Determine how much cash Cullumber Inc. must borrow, or can repay, in April. (List items that increase cash balance first.) Beginning cash balance Add Cash receipts March cash purchases Payment of April purchases Total receipts Total available cash Less Cash disbursements @ Payment of March purchases CULLUMBER INC. Cash Budget For the Month Ending April 30, 2025 11610 18680 43140 61820 23340 Payment of April purchases 28340 Cash operating costs 11880 Equipment purchase Total disbursements Total available cash Financing Add v Borrowings Less v Repayments Ending cash balance $ 2700