Carla Vista Corporation is projecting a cash balance of $28,800 in its December 31, 2021, balance sheet. Carla Vista's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $177,600. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $41.280. Other information gathered for the first quarter of 2022 is sale of equipment $2,880; direct labor $67.200, manufacturing overhead $33,600, selling and administrative expenses $43,200; and purchase of securities $13,440. Carla Vista wants to maintain a balance of at least $24,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. CARLA VISTA CORPORATION Cash Budget Beginning Cash Balance $ 28800 Add : Collections from Customers Collections from Customers Sale of Equipment 177600 2880 Total Available Cash Less: Direct Materials 41280 Sale of Equipment 2880 Total Available Cash 209280 Less Direct Materials 41280 Direct Labor 67200 Manufacturing Overhead