You are provided with the following information taken from Sage Hill Inc.$\text{'}$s March $31,2027,$ balance sheet.

Cash $-12,280$

Accounts receivable $-23,120$

Inventory $-37,100$

Property, plant, and equipment, net of depreciation $-123,400$

Accounts payable $-22,910$

Common stock $-152\mathrm{.}900$

Retained earnings $-12,320$

Additional information concerning Sage Hill Inc. is as follows.

$1.$ Gross profit is $24\%$ of sales.

$2.$ Actual and budgeted sales data:

March $($actual$)-47,100$

April $($budgeted$)-72,700$

$3.$ Sales are both cash and credit. Cash collections expected in April are

March $-18,840(40\%$ of $$47,100)$

April $-43,620(60\%$ of $$72,700)$

Total $-$ $$62,460$

$4.$ Half of a month's purchases are paid for in the month of purchase and half in the following month. Cash disbursements expected

Purchases March $-22,910$

Purchases April $-28,910$

Total. $-$ $$51,820$

$5.$ Cash operating costs are anticipated to be $$12,110$ for the month of April.

$6.$ Equipment costing $$2,530$ will be purchased for cash in April.

$7.$ The company wishes to maintain a minimum cash balance of $$12\mathrm{.}240.$ 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 $13\%$ 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 Sage Hill Inc. must borrow, or can repay, in April.