Hopefully these pictures are sufficient. I am unsure of how to solve this problem, please help. **Transcription for Educational Website:**The image contains a detailed explanation and a table related to the cash budget for SeaTech Inc. for the months of April, May, and June 2019.The text explains that SeaTech Inc. aims to maintain a minimum cash balance of $10,000 at the beginning of each month. To ensure this availability, the company has secured a $50,000 line of credit from a local bank at an interest rate of 10%. Borrowing transactions occur at the end of months when the cash balance might fall below the $10,000 minimum. Repayments, including principal and interest, are due at the end of the earliest month when sufficient funds are available, using a 360-day year for calculations.**Table: SeaTech Inc. Cash Budget**- **Beginning Cash Balance:** - April: $11,200 - May: [Blank] - June: [Blank]- **Cash Receipts:** - From cash sales made in the current month: - April: [Blank] - May: [Blank] - June: [Blank] - From credit sales made in: - February: [Blank for April, May, June] - March: [Blank for April, May, June] - April: [Blank for April, May, June] - May: [Blank for April, May, June]- **Total Cash Available:** - April: $11,200 - May: $0 - June: $0- **Cash Disbursements:** - For cost of goods sold/operating expenses incurred in: - March: [Blank for April] - April: [Blank for April] - May: [Blank for April] - June: [Blank for April] - For payment of note payable and interest: [Blank for April, May, June] - For capital expenditures: [Blank for April, May, June] - For payment of income taxes: [Blank for April, May, June] - For payment of dividends: [Blank for April, May, June]- **Total Disbursements:** - April: $0 - May: $0 - June: $0- **Excess (Deficiency) of Cash Available Over Disbursements:** - April: **Sales and Financial Projections for SEATECH INC.**### Income Statement OverviewThis section provides a summary of the projected income statements for SEATECH INC. for the months of April, May, and June 2019.#### Sales and Costs- **Sales**: Projected sales increase from $112,000 in April to $152,000 in June.- **Cost of Goods Sold (COGS)**: Estimated at $76,280 in April, increasing to $100,680 in June.- **Gross Profit**: Rises from $35,720 in April to $51,320 in June.- **Operating Expenses**: Consistently at $18,120 each month.#### Operating Income- **April**: $17,600- **May**: $24,800- **June**: $29,600### Assumptions and Notes1. **Product and Period Costs** - Product costs include direct materials, labor, and manufacturing overhead. - Period costs comprise selling, general, and administrative expenses.2. **Revenue Collection** - 40% of sales are via cash transactions. - Collection of remaining sales: 65% in the first month following the sale, 35% in the second month.3. **Other Financial Considerations** - Depreciation, insurance, and property taxes are included in operating expenses. - Insurance is paid annually in January, property taxes in August. - Remaining operating expenses are paid in the month incurred (90%).4. **Current Assets and Liabilities** - As of April 1, 2019, cash at $1,200 and receivables at $119,840. - Current liabilities: Accounts payable for product costs ($14,400), accrued liabilities ($3,680), and a $38,000 note payable on April 17, 2019.5. **Estimated Payments** - Income tax: $36,000 in May. - Quarterly dividend: $12,800 declared in May, paid in June. - Capital expenditures: $13,760 in April.### Cash BudgetA detailed monthly cash budget is provided for April, May, and June 2019, using a 360-day year for calculations.#### Example of Cash Budget for April- **Beginning Cash Balance**: $1,200- **Cash Receipts**:

In requirement B it is stated that the company wants to maintain a minimum cash balance of $10,000 The company has arranged $50,000 credit line at a 10% interest rate. April May June Sales 1,12,000 1,36,000 1,52,000 Cash sales @40% 44800 54400 60800 Credit sales 67,200 81,600 91,200 April May June Cost of Goods Sold 76800 91200 100800 Add: Operating Expense 17600 20,000 21600 Less: Non-Cash Exp 16000 16000 16000 Total Cash Expense 78400 95200 106400 Interest on note payable=38000*12%*120/360=$1520 Interest on borrowings: April=5480*10%*2/12=$91.33 May=2040*10%*1/12=$17 Total Iterest=91+17=$108SeaTech Inc. Cash Budget For the months of April, May, and June 2019 Particulars April May June Beginning Cash Balance 11,200 4,520 2,480 Cash Receipts: From Cash Sales made in current Month 44800 54400 60800 From Credit Sales made in: February 35840 March 54600 29400 April 43680 23520 May 53040 Total Cash Receivable 1,46,440 1,32,000 1,39,840 Cash Disbursement: For COGSand operating Expense March 18080 April 70560 7840 May 85680 9520 June 95760 For the payment of Note payable and Interest 39520 For Capital Expenditures 13760 For Payment of income taxes 36000 For payment of Dividends 12800 Total Disbursements 141920 129520 118080 Ending Cash Balance 4,520 2,480 21,760SeaTech Inc. Cash Budget For the months of April, May, and June 2019 Particulars April May June Beginning Cash Balance 11,200 10,000 10,000 Cash Receipts: From Cash Sales made in current Month 44800 54400 60800 From Credit Sales made in: February 35840 March 54600 29400 April 43680 23520 May 53040 Total Cash Receivable 1,46,440 1,37,480 1,47,360 Cash Disbursement: For COGSand operating Expense March 18080 April 70560 7840 May 85680 9520 June 95760 For the payment of Note payable and Interest 39520 For Capital Expenditures 13760 For Payment of income taxes 36000 For payment of Dividends 12800 Total Disbursements 141920 129520 118080 Excess of cash available over disbursements 4,520 7,960 29,280 Borrowings 5,480 2,040 Repayments 7,520 Interest 108 Ending Cash Balance 10,000 10,000 21,652

Business

Accounting

SEATECH INC. Cash Budget For the Months of April, May, and June 2019 April May June Beginning cash balance Cash Receipts: 11,200 60,800 From cash sales made in current month From credit sales made in: 44,800 54,400 February 35,840 March April Мay Total cash available 01,840 54,400 60,800 Cash Disbursements: For cost of goods sold/operating expenses incurred in: March 18,080 April May June For payment of note payable and interest For.capital.eXPenditucea 13.70