You are provided with the following information taken from Wildhorse Inc.'s March 31, 2025, balance sheet. Cash Accounts receivable $11,600 20,180 Inventory 36,010 Property, plant, and equipment, net of depreciation 120,800 Accounts payable 22,560 Common stock 154,500 Retained earnings 11,680 Additional information concerning Wildhorse Inc. is as follows. 1. Gross profit is 25% of sales. 2. Actual and budgeted sales data: March (actual) $48,200 April (budgeted) 70,700 3. 4. Sales are both cash and credit. Cash collections expected in April are: March April $19,280 (40% of $48,200) 42,420 (60% of $70,700) $61,700 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 Purchases April $22,560 28,320 $50,880 5. Cash operating costs are anticipated to be $12,630 for the month of April. 6. Equipment costing $2,560 will be purchased for cash in April. 7. The company wishes to maintain a minimum cash balance of $12,190. 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 Wildhorse Inc. must borrow, or can repay, in April. (List items that increase cash balance first.) WILDHORSE INC. Cash Budget