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Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter $250,000 $309,000 2nd Quarter $400,000 $279,000 3rd Quarter $280,000 $269,000 4th Quarter $300,000 $289,000 The company's beginning cash balance for the upcoming fiscal year will be $34,000. 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 repaid. For simplicity, assume that interest is not compounderd Required Complete the company's cash budget for the upcoming fiscal year. (Cash deficiency, repayments, and interest, should be indicated by a minus sign.) Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year $34.00010,000 Beginning cash balance Total cash receipts Total cash available Less total cash disbursements Excess (deficiency) of cash available over disbursements 250,000 284,000 309,000 (25,000)131,000 $ 34,000 400,000 280,000300,000 1,230,000 410,000 280,000 300,0001,264,000 279,000 269,000289,000,46,000 1000118,000 11,000 Repayments Total financing Ending cash balance $(25,000131,000 11,00011,000118,000

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