Piano Man, Inc., has a 40-day average collection period and wants to maintain a minimum cash balance of $25 million, which is what the company currently has on hand. The company currently has a receivables balance of $182 million and has developed the following sales and cash disbursement budgets in millions:

Complete the following cash budget for the company. What conclusions do you draw?

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Q1 Q2 Q3 Q4 $315 Sales Total cash disbursement $390 $475 560 $435 265 340 375 PIANO MAN, INc. Cash Budget (in millions) Q1 Q2 аз Q4 Beginning receivables Sales Cash collections Ending receivables Total cash collections Total cash disbursements Net cash inflow Beginning cash balance Net cash inflow Ending cash balance Minimum cash balance Cumulative surplus (deficit)