6 Your answer is partially correct. Waterway Corporation is projecting a cash balance of $31,000 in its December 31,2021 , balance sheet. Waterway's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $179,000. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $44,000.0 ther information gathered for thef quarter of 2022 is as follows: sale of equipment $5,000; direct labour $63,000, manufacturing overhead $39,000; selling and administrative expenses $50,000; and purchase of securities $12.000. Waterway wants to maintain a balance of at least $25,000 at the end of each quarter