Given the following information, construct Mark Finance Co$.$s cash budget for the given months and answer the questions.

$$ All sales are for credit and collections occur after $30$ days.

$$ A $$100,000$ Treasury bill matures in March.

$$ Monthly fixed disbursements are $$25,000.$

$$ Variable disbursements are $40$ percent of sales and occur one month prior to sales. $($Variable cash disbursements are given for April.$)$

$$ A tax payment of $$30,000$ is due in April.

$$ A payment of $$50,000$ is to be received in February.

$$ The initial cash is $$20,000.$

$$ The minimum required cash balance is $$10,000.$

January February March April

Sales $$200,000$ $$230,000$ $$200,000$

Cash Sales

Collections

Other Receipts

Total Cash Receipts

Variable Disbursements $$70,000$

Fixed Disbursements

Other Disbursements

Total Cash Disbursements

Net Change During the Month

Beginning Cash $$20,000$

Ending Cash

Required Cash $$10,000$

Excess Cash to Invest

Cash Borrowed

a$.$ At the end of March, what are the firm$$s $(1)$ accounts receivable, $(2)$ marketable securities$,$ and $(3)$ accounts payable?

b$.$ What is the maximum amount that the firm may have to borrow? If your answer is $$None$,$ give a reason that verifies your answer.