Suppose that Paymore's cash balance (from Problem 7) at the start of the first quarter is $40 and its minimum acceptable cash balance is $30. Work out the short-term financing requirements for the firm in the coming year using a table like Table 19.5. The firm pays no dividends.
TABLE 19.5 Dynamic Mattress's cash budget for 2017 (figures in $ millions, subject to rounding error)

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First Quarter Second Quarter Third Quarter Fourth Quarter Sources of Cash: Collections on accounts receivable Other $511.0 $519.4 $670.0 77.0 $747.0 $807.8 $511.0 $519.4 $807.8 Total sources Uses of Cash: Payments of accounts payable Increase in inventory Labor and other expenses Capital expenditures Taxes, interest, and dividends $250.0 150.0 136.0 70.0 46.0 $652.0 -$141.0 $250.0 150.0 136.0 10.0 46.0 $592.0 72.6 $267.0 170.0 136.0 8.0 46.0 $627.0 $120.0 $261.0 180.0 136.0 14.5 46.0 $637.5 $170.3 Total uses Sources minus uses Calculation of Short-Term Borrowing Cash at start of period Change in cash balance Cash at end of period Minimum operating balance Cumulative financing required $30.4 -141.0 -$ 110.6 25.0 135.6 -$183.2 120.0 - 63.2 25.0 88.2 -$110.6 - 72.6 -$183.2 25.0 208.2 -63.2 170.3 $107.1 25.0 - 82.1