Assignment DetailsCash is King!Good cash management is an essenti
Assignment DetailsCash is King!Good cash management is an essential job of the financial manager! You own a small auto sales business called King Kars. You stock up on inventory in February, April, June, and September. Your annual cash budget indicates that your MONTHLY NET CASH for the year will be the following:JAN $5,000FEB -$30,000MAR $20,000APRIL -$35,000MAY $25,000JUNE -$10,000JULY $25,000AUG $25,000SEPT -$30,000OCT $15,000NOV $15,000DEC $25,000You begin the year with a cash balance of $50,000, and the minimum cash balance desired must be $50,000 every month. Prepare a cash flow summary and external financing summary as noted in the Excel spreadsheet assigned to this submission. Do you believe that the company needs outside financing? What is the minimum line of credit to request from a lender? Do you think you are a good candidate for the line of credit? Why? Please submit the Excel template below, saved under your name, with the columns and rows completed with the cash flows. Also in this template, you must include the answers to questions 2 and 3 in the assignment. Click here to download the template.The use of 1 scholarly source (e.g., textbook, article from the CEC Library) is required.If you are planning to repurpose an assignment or submit one you have used before, please let your instructor know. If an instructor is not made aware of work being repurposed or reused, he or she will treat the assignment as a plagiarized task and reserves the right to post an F grade and submit a task for review to administration until proof of originality is provided. Click here for more information.
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