Concord Corporation is projecting a cash balance of $25,800 in its December 31, 2021, balance sheet. Concord's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $159,100. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $36,980. Other information gathered for the first quarter of 2022 is sale of equipment $2,580; direct labor $60,200, manufacturing overhead $30,100, selling and administrative expenses $38,700; and purchase of securities $12,040. Concord wants to maintain a balance of at least $21.500 cash at the end of each quarter. Prepare a cash budget for the first quarter. Beginning Cash Balance Add Receipts CONCORD CORPORATION Cash Budget For the Quarter Ended March 31, 2022 Collections from Customers Sale of Equipment Total Receipts Total Available Cash