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