Zeman Company Prepares a Cash Budget

Zeman Company prepares a cash budget. The budgeted cash balance is $8,000,000. The company has budgeted cash payments of $5,400,000 and budgeted cash receipts of $10,300,000. The beginning balance of cash is $0. What amount of new financing is required?

A) No new financing is required.
B) $4,900,000
C) $2,600,000
D) $3,100,000