Hi, please solve for the box on the third picture (Cash Budget for May). If any of the values are incorrect, please update them.

Sales and Service Revenues Budget March-June 2018 Month March April Expected Sales Revenue Expected Service Revenue Total Revenue $ 7,500 9.500 8,800 9,800 $ 4,400 5,100 5,800 6.500 $ 11,900 14,600 14,600 16,300 June Almost all of the sales revenues of the cash sales are negligible. The credit card company deposits 97% of the revenues recorded each day into BreatheMart's account overnight. For the servicing of home oxygen equipment, 60% of oxygen services billed each month is collected in the month of the service, and 40% is collected in the month following the service oxygen equipment are credit card sales 1. Calculate the cash that BreatheMart expects to collect in April, May and June 2018 from sales and service revenue. Show calculations for each month BreatheMart has budgeted expenditures for May of $13,800 and requires a minimum cash balance of $280 at the end of each month. It has a cash balance on May 1 of $550 a. Given your answer to requirement 1, will BreatheMart need to borrow cash to cover its 2. payments for May and maintain a minimum cash balance of $280 at the end of May? b. Assume (independently for each situation) that (1) May total revenues might also be 10% lower or that (2) total costs might be 5% higher. Under each of those two scenarios, show the total net cash for May and the amount BreatheMart would have to borrow to cover its cash payments for May and maintain a minimum cash balance of $280 at the end of May. (Again, assume a balance of $550 on May 1.) 3. Why do BreatheMart's managers prepare a cash budget in addition to the revenue, expenses and operating income budget? Has preparing the cash budget been helpful? Explain briefly BreatheMart is a retail store selling home oxygen equipment. BreatheMart also services home oxygen equipment, for which the company bills customers monthly. BreatheMart has budgeted for increases in service revenue of $700 each month due to a recent advertising campaign. The forecast of sales and service revenue for March-June 2018 is as follows EEB (Click the icon to view the forecast of sales and service revenue.) (Click the icon to view the collection information.) Read the requirements Requirement 1. Calculate the cash that BreatheMart expects to collect in May and in June 2018. Show calculations for each month Start by showing the cash collections of sales revenue, then complete the schedule by entering in the service revenue collections and the total cash collections for each month. (Complete all answer boxes. If there were no collections of revenue for a certain month, select "0%" in the "Collection %" column and enter a "0" in the appropriate May or June column.) Gross Expected Revenue Collection % April June Sales revenue: 9,500 x 8,800 x 9,800 x 97% 97% 97% April sales revenue collected in Apr 9,215 8,536 May sales revenue collected in May June sales revenue collected in June 9,506 Service revenue March service revenue collected in Apr March service revenue collected in 4,400 x 4,400 x 4,400 x 5,100 x 5,100 x 5,100 x 5,800 x 5,800 x 6,500 x 40% 1,760 0% 0% 60% 40% March service revenue collected in June April service revenue collected in Apr 3,060 April service revenue collected in May 2,040 April service revenue collected in June 0% 60% 40% 60% 3,480 May service revenue collected in May May service revenue collected in June June service revenue collected in June 2,320 3,900 $ 14,035 $ 14,056 $ 15,726 Total collections Requirement 2a. BreatheMart has budgeted expenditures for May of $13,800 and requires a minimum cash balance of $280 at the end of each month. It has a cash balance on May 1 of $550. Given your answer to requirement 1, will BreatheMart need to borrow cash to cover its payments for May and maintain a minimum cash balance of $280 at the end of May? The total cash available for May exceeds the budgeted expenditures for the month; therefore, BreatheMart will be able to cover its payments for May and maintain a minimum cash balance of $280 at the end of May Requirement 2b. Assume (independently for each situation),that (1) May total revenues might be 10% lower or that (2) total costs might be 5% higher. Under each of those twoscenarios.. show the total net cash for May and the amount BreatheMart would have to borrow to cover its cash payments for May and maintain a minimum cash balance of $280 at the end of May. (Again, assume a balance of $550 on May 1.) First calculate the cash excess or deficiency for May using the original numbers and under each scenario presented. On the next line, enter the amount of borrowing required. (Enter all amounts to the nearest cent. Enter a cash deficiency with a minus sign or parentheses. Complete all answer boxes. Enter a "O" if no borrowing is required.) Cash Budget For May Original May Revenues May Costs Numbers Decrease 10% Increase 5% 550 14056 14,606.00 13800 300 14100 506 550 12854.40 13,404.40 13800 300 14100 -695 550 14056 14,606.00 Cash balance, beginning Add receipts Total cash available for needs Total disbursements Minimum cash balance desired Total cash needed Cash excess (deficiency) 300