Chapter 18In Class Group Example Calculating the Cash Budet ILON Wildcat Inc. has estimated sales in millions) for the next four quarters as follows: 01 02 03 04 Saless160175 $1903215 Sales for the first quarter of the year after this one are proiected at $170 million. Accounts receivable at the beginning of the year were $68 million Wildcat has a 45-day collection period Wildcat's purchases from suppliers in a quarter are squal to 45 percent of the next quarter's forecast sales, and suppliers are normally paid in 36 days, Wages, taxes, and other expenses run about 25 percent of sales. Interest and dividends are $12 million per quarter. Wildcat plans a major capital outley in the second quarter of $75 million. Finally, the company started the year with a 549 million cash balance and wishes to maintain a $30 million minimum balance Complete a cash budget for Wildcat by filling in the following: WILDCAT, INC. Cash Budget (in millions) 01 02 03 Beginning cash balance $49 Net cash inflow Ending cash balance Minimum cash balance 30 30 30 Cumulative surplus (deficit) 30 Q1 03 04 Beginning receivables $68.00 Sales 160.00 175.00 190.00 215.00 Collection of accounts Ending receivables Payment of accounts Wages, taxes, and expenses Capital expenditures Interest and dividends Total cash disbursements Total cash collections Total cash disbursements Net cash inflow