There was no additional information given.

20) Prepare a cash budget for the month of March based on the following information: (12 points) a) The company had a cash balance of $12,000 at the beginning of the month. b) Accounts receivable totaled $12,000 at the beginning of the month of which $28,000 will be received during March. C) Sales for March are budgeted at $325,000. Typically, 10% are cash sales and 90% are credit sales. Of the credit sales, 60% are received in the month of sale, 25% in the next month, 10% in the third month, and 5% are uncollectible. d) Fifty percent of a month's merchandise purchased are paid for within the month and 50% in the following month: Merchandise Purchases February $80,000 March $60,000 April $90,000 e) Purchase of equipment, for cash, of $27,000, occurred during the month. f) Common stock of $25,000 is expected to be sold during March. g) Monthly depreciation totals $20,000. h) Other operating expenses total $72,000. i) Payment of dividend is expected to be $15,000 on March 15th for the 4th quarter of last year. If the company wants to maintain a $22,000 cash balance, what financing recommendation, if any, would you make as a result of the above