La Petite France Bakery is budgeting cash for 20X8. The cash balance at December 31, 20X7, was…

La Petite France Bakery is budgeting cash for 20X8. The cash balance at December 31, 20X7, was $10,000. LaPetite budgets 20X8 cash receipts at $85,000. Estimated cash payments include $40,000 for inventory, $30,000 for operating expenses, and $20,000 to expand the store. La Petite needs a minimum cash balance of $10,000 at all times. La Petite expects to earn net income of $40,000 during 20X8. What is the final result of the company’s cash budget for 20X8? (pp. 236–237)

a. $10,000 available for additional investments.

b. $5,000 available for additional investments.

c. Must arrange new financing for $5,000.

d. Pay off $10,000 of debt.

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