Blossom Corporation is projecting a cash balance of $30,000 in its December 31,2021 , balance sheet. Blossom's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $176,000. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $41,000. Other information gathered for the first quarter of 2022 is as follows: sale of equipment $3,000; direct labour $68,000, manufacturing overhead $32,000; selling and administrative expenses $46,000; and purchase of securities $15,000. Blossom wants to maintain a balance of at least $26,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. M ! eTextbook and Media Save for Later Atter