Sportif Inc.’s fi nancial analyst has compiled sales and total cash disbursement estimates for the coming months of January through May. Historically, 60 percent of sales are for cash with the...

Sportif Inc.’s fi nancial analyst has compiled sales and total cash disbursement estimates for the coming months of January through May. Historically, 60 percent of sales are for cash with the remaining 40 percent collected in the following month. The ending cash balance in January is $1,000. The fi rm’s minimum cash balance is $1,000. The analyst plans to use this data to prepare a cash budget for the months of February through May. Sportif Inc. Month Sales Total Cash Disbursements January $ 5,000 $6,000 February 6,000 8,000 March 10,000 8,000 April 10,000 6,000 May 10,000 5,000 a. Use the data provided to prepare Sportif’s cash budget for the four months February through May. b. How much total fi nancing will Sportif need to meet its fi nancial requirements for the period February to May? c. If a pro forma balance sheet dated at the end of May was prepared from the information presented, how much would Sportif have in accounts receivable?