Aaron Corporation is projecting a cash balance of $31,405 in its December 31, 2013, balance sheet. Aarons schedule of expected collections from customers for the first quarter of 2014 shows total collections of $180,229. The schedule of expected payments for direct materials for the first quarter of 2014 shows total payments of $40,551. Other information gathered for the first quarter of 2014 is sale of equipment $3,953, direct labor $70,131, manufacturing overhead $34,590, selling and administrative expenses $44,656 and purchase of securities $12,190. Aaron wants to maintain a balance of at least $25,275 cash at the end of each quarter. Prepare a cash budget for the first quarter.