You are provided with the following information taken from Tamarisk, Inc's March 31, 2022. balance sheet. Cash $ 12,330 Accounts receivable 24,310 37 110 Inventory Property, plant, and equipment, net of depreciation Accounts payable 123,800 23,400 Common stock 152.000 Retained earnings 11.890 Additional information concerning Tamarisk, Inc. is as follows. 1. Gross profit is 24% of sales. 2. Actual and budgeted sales data: $47.900 March (actual) April (budgeted) ) 72.900 3. Sales are both cash and credit. Cash collections expected in April are: March $19.160 $ ( (40% of $47.900) April 43,740 (60% of $72,900) % $62.900 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 $23.400 Purchases April 28.980 $52.380 5. 6. Cash operating costs are anticipated to be $12.320 for the month of April. . Equipment costing $2,640 will be purchased for cash in April. . The company wishes to maintain a minimum cash balance of $12.930. 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 15% per year, and interest expense is accrued at the end of the month and paid in the following month. . 7. Prepare a cash budget for the month of April. Determine how much cash Tamarisk, Inc. must borrow, or can repay, in April. TAMARISK, INC Cash Budget $ $