Beginning cash balance$30.00$30.00$30.00$30.00Net cash inflow19.95-46.0530.7552.15New short-term investments-20.330-30.85–52.66Income on short-term investments0.380.810.100.51Short-term investments sold045.2400New short-term borrowing0000Interest on short-term borrowing0000Short-term borrowing repaid0000Ending cash balance$30.00$30.00$30.00$30.00Minimum cash balance–30.00–30.00–30.00–30.00Cumulative surplus (deficit)$0$0$0$0Beginning short-term investments19.0040.3341.9125.94Ending short-term investments40.3341.9125.9478.09Beginning short-term debt$0$0$0$0Ending short-term debt$0$0$0$0Below you will find the interest paid (or received) for each quarter:Q1: excess funds at start of quarter of $19invested for 1 quarter earns .02($19) = $0.38incomeQ2: excess funds of $38.95invested for 1 quarter earns .02($38.95) = $0.81in incomeQ3: excess funds of $4.91invested for 1 quarter earns .02($4.91) = $0.10in incomeQ4: excess funds of $25.94invested for 1 quarter earns .02($25.94) = $0.52in incomeNet cash cost = $0.38 + 0.81+ 0.1+ 0.52= $1.81