You have been hired by Ashton Corporation, a retailer, to assist in preparing the annual cash budget. The following information is avallable regarding the quarterly budgeted cash flows: Total canh receipts Total cash disbursements 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $360,000 $ 480,000 $410,000 $430,000 $ 400,000 $370,000 $360,000 $ 380,000 The company's beginning cash balance for the upcoming fiscal year will be $18,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repold. For simplicity, assume that interest is not compounded Required: Prepare the company's cash budget for the upcoming fiscal year. (Cosh deficiency, repayments and interest should be indicated by a minus sign.) Year Ashton Corporation Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency of cash available over disbursements Financing Borrowings Repayments interest Totat financing Ending cash balance