Forest Outfitters is a retailer that is preparing its budget for the upcoming fiscal year. Management

Forest Outfitters is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter
Total cash receipts	$ 340,000	$ 670,000	$ 410,000	$ 470,000
Total cash disbursements	$ 530,000	$ 450,000	$ 430,000	$ 480,000

The company's beginning cash balance for the upcoming fiscal year will be $50,000. The company requires a minimum cash balance of $30,000 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.

Required:

Complete the company's cash budget for the upcoming fiscal year. (Input all amounts as positive values except cash deficiency, repayments, and interest, which should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)

Forest Outfitters Cash Budget
	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Year
Cash balance, beginning	$ 50,000	$ 30,000	$ 69,800	$ 49,800	$ 50,000
Total cash receipts	340,000	670,000	410,000	470,000	1,890,000
Total cash available	390,000	700,000	479,800	519,800	1,940,000
Less total cash disbursements	530,000	450,000	430,000	480,000	1,890,000
Excess (deficiency) of cash available over disbursements	140,000	250,000	49,800	39,800	50,000
Financing:
Borrowings (at beginning)	170,000	0	0	0	170,000
Repayments (at ending)	0	180,200	0	0	n/r
Interest	0	0	0	0	n/r
Total financing	0	0	0	0	0
Cash balance, ending	$ 30,000	$ 69,800	$ 49,800	$ 39,800	$ 39,800