Lakewood Laser SkinCare's ending cash balance as of January 31, 2015 (the end of its fiscal year 2014) was $ 15,000. Its expected cash collections and payments for the next six months are given in the following table.

a. Calculate the firm's expected ending cash balance for each month.
b. Assuming that the firm must maintain an ending cash balance of at least $12,000, how much must they borrow during each month?
c. If the firm must pay 5% annual interest on its short-term borrowing, what are your ending cash balances for each month?
d. What are the ending cash balances if the firm uses any cash in excess of the minimum to pay off its short-term borrowing in each month?

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Month Collections Payment February $24,750 $29,100 March 27,450 31,200 34,050 32,400 43,65036,450 48,750 40,050 54,000 40,800 April June