You are provided with the following information taken from Ivanhoe Inc.'s March 31, 2025, balance sheet. Cash Accounts receivable Inventory Property, plant, and equipment, net of depreciation Accounts payable Common stock Retained earnings 1. 2. Gross profit is 25% of sales. Actual and budgeted sales data: March (actual) April (budgeted) $47,200 $11,860 70,800 23,480 36,810 Additional information concerning Ivanhoe Inc. is as follows. 123,700 22,430 152,000 12,240

5. Cash operating costs are anticipated to be $12,570 for the month of April. 6. Equipment costing $2,780 will be purchased for cash in April. 7. The company wishes to maintain a minimum cash balance of \$12,230. 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 14% 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 Ivanhoe Inc, must borrow, or can repay, in April. (List items that increase cash balance first.) Additional information concerning Ivanhoe Inc. is as follows. 1. Gross profit is 25% of sales. 2. Actual and budgeted sales data: March (actual) $47,20070,800 Aprit(budgeted) 3. Sales are both cash and credit. Cash collections expected in April are: 4. 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 $22,430 Purchases April 28.140 $50.570 You are provided with the following information taken from Ivanhoe Inc's March 31, 2025, balance sheet. Cash Accounts receivable Inventory Property, plant, and equipment, net of depreciation Accounts payable Commonstock Retained earnings $11,860 23,480 36,810 123,700 22,430 152,000 12.240 Additional information concerning Ivanhoe inc. is as follows: 1. Gross profit is 25% of sales. 2. Actual and budgeted sales data: March (actual) $47,200 April (budgeted) 70,800