3. Cards by Shannon expects sales of $50,000 in January, $75,000 in February, and $45,000 in March. Based upon past sales, the company predicts that 75% of sales will be collected in the month of sale and 25% will be collected in the month following the sale. The company also expects to incur the manufacturing expenses, excluding depreciation, of $30,000 in January, $40,000 in February, and $25,000 in March. The company's policy is to pay 65% of its current manufacturing costs in the month incurred and 35% of the prior month's manufacturing costs. December sales and costs were $67,000 and $39,000, respectively. Prepare the cash budget for the three months if the cash balance on January 1, 2015, was $212,000 and the company has a $210,000 minimum cash balance.