You are provided with the following information taken from Splish Brothers Inc's March 31, 2017, balance sheet. Cash Accounts receivable Inventory Property, plant, and equipment, net of depreciation Accounts payable Common stock Retained earnings $11.640 24,150 37.140 120,300 22,800 150,900 12,440 Additional information concerning Splish Brothers Inc. is as follows. 1. Gross profit is 24% of sales. 2. Actual and budgeted sales data: March (actual) April (budgeted) $47.900 72.400 3. Sales are both cash and credit. Cash collections expected in April are: March $19.160 (40% of $47.900) April 43.440 (50% of $72.400) $62.600 4. Half of a month's purchases are paid for in the month of purchase and half in the following month. Cash disbursements expected in April Purchases March $22,800 Purchases April 28,480 $51,280 5. Cash operating costs a anticipated to be $11.920 for the month of April 6. Equipment costing $2.890 will be purchased for cash in April 7. The company wishes to maintain a minimum cash balance of $12.940. 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 Splish Brothers Inc. must borrow, or can repay, in April. (Do not leave any answer field blank. Enter for amounts) SPLISH BROTHERS INC. Cash Budget 2:06 PM Toutbordad