You are provided with the following information taken from Teal Mountain Inc.s March 31, 2022, balance sheet.

You are provided with the following information taken from Teal Mountain Inc.'s March 31, 2022, balance sheet. Cash Accounts receivable Inventory Property, plant, and equipment, net of depreciation Accounts payable Common stock Retained earnings $ 12,480 21,910 36,560 124,500 22.910 153,800 12.540 Additional information concerning Teal Mountain Inc. is as follows. 1. 2. Gross profit is 26% of sales. Actual and budgeted sales data: March (actual) April (budgeted) $47.900 73,300 3. Sales are both cash and credit. Cash collections expected in April are: March $19,160 (40% of $47,900) April 43,980 (60% of $73,300) $63,140 4. Half of a month's purchases are paid for in the month of purchase and half in the following month. Cash disbursements expec Purchases March $22,910 Purchases April 28,150 $51,060 5. 6. 7. Cash operating costs are anticipated to be $12,420 for the month of April. Equipment costing $2,790 will be purchased for cash in April. The company wishes to maintain a minimum cash balance of $12,990. 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. Prepare a cash budget for the month of April. Determine how much cash Teal Mountain Inc. must borrow, or can repay, in April