5 6 9 Flags Ski Resorts, Inc. expects to have cash balance of $123,600 as they begin the new operating year on January 1, 2021. These are the relevant monthly budget data for the first two months of 2021: 1. Collections from customers: January $182,500, February $221,000 2. Payments to suppliers: January $45,320, February $66,560 3. Wages: January $165,000, February $167,000. Wages are paid in the month they are incurred. 4. Administrative expenses: January $21,670, February $15,900. These costs include depreciation of $4,000 per month. All other costs are paid as incurred. 5. Selling expenses: January $24,800, February $36,700. These costs are exclusive of depreciation and they are paid as incurred. 6. Sales of short-term investments in January are expected to realize $36,000 in cash. 9 Flags has a line of credit Citi Bank New York that enables it to borrow up to $500,000. The company wants to maintain a minimum monthly cash balance of $100,000. Instructions Prepare a cash budget for January 2021 and February 2021 for the 9 Flags Ski Resorts