You have been provided with the financial information of Meridian Hotel as follows: Revenue/ Expenses: Customers (Guests) Revenues, 2018 October November December $1,500,000 1,600,000 1,700,000 Estimated Customers (Guests) Revenues, 2019 January $1,700,000 February 1,300,000 March 1,200,000 Other Revenues, 2019 January $44,000 February 55,000 March 52,000 Estimated Cash Outflows, 2019 (1) January $1,199,000 February 1,263,800 March 1,390,600 April 855,000 Ending Cash Balances December, 2018 $200,000 Receipt of Payment for Hotel Services Month earned 60% 2nd Month 30% 3rd Month 10% 4th Months 0% (2) 40% Additional information: (1) Cash outflows within the given month (2) The ending balance for each month as a percentage of the estimated cash outflows for the next month. Required: Prepare a Cash Budget for Meridian Hotel for the first quarter ending in March 2019