Please show in Excel Format for Solution with formulation steps detailed thank you.

Wildcat, Inc., has estimated sales (in millions) for the next four quarters as follows:

Q1 Q2 Q3 Q4 Sales

175 195 215 245

Sales for the first quarter of the year after this one are projected at $190 million. Accounts receivable at the beginning of the year were $75 million. Wildcat has a 45-day collection period.

Wildcats purchases from suppliers in a quarter are equal to 50 percent of the next quarters forecast sales, and suppliers are normally paid in 36 days. Wages, taxes, and other expenses run about 20 percent of sales. Interest and dividends are $11 million per quarter.

Wildcat plans a major capital outlay in the second quarter of $98 million. Finally, the company started the year with a cash balance of $80 million and wishes to maintain a $30 million minimum balance.

a. Complete the following cash budget for Wildcat, Inc. (Enter your answers in millions, e.g., 1.23. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

WILDCAT, INC. Cash Budget (in millions)

Q1 Q2 Q3 Q4 Beginning cash balance

$80.00 $ $ $

Net cash inflow

Ending cash balance $ $ $ $

Minimum cash balance $(30.00) $(30.00) $(30.00) $(30.00)

Cumulative surplus (deficit) $ $ $ $

Assume that Wildcat can borrow any needed funds on a short-term basis at a rate of 3 percent per quarter and can invest any excess funds in short-term marketable securities at a rate of 2 percent per quarter.

b-1. Complete the following short-term financial plan for Wildcat, Inc. (Enter your answers in millions, e.g., 1.23. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Leave no cells blank - be certain to enter "0" wherever required.)

WILDCAT, INC. Short-Term Financial Plan (in millions)

Q1 Q2 Q3 Q4 Target cash balance

$30.00 $30.00 $30.00 $30.00

Net cash inflow

New short-term investments

Income from short-term investments

Short-term investments sold

New short-term borrowing

Interest on short-term borrowing

Short-term borrowing repaid

Ending cash balance $ $ $ $

Minimum cash balance

Cumulative surplus (deficit) $ $ $ $

Beginning short-term investments $ $ $ $

Ending short-term investments $ $ $ $

Beginning short-term debt $ $ $ $

Ending short-term debt $ $ $ $

b-2. What is the net cash cost (total interest paid minus total investment income earned) for the year? (Enter your answers in millions, e.g., 1.23. A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Net cash cost $