Cookie Crunchers (CC) had the following expected sales, labor and raw material expenses for the first three month of the year:

Month	December	January	February	March
Sales	50,000	104,000	90,000	150,000
Labor and raw material	40,000	68,000	58,000	96,000

The cash balance on January 1 is $20,000, and CC requires a minimum cash balance of $10,000. CC expects to collect 25% of the sales in the month of sales and 75% in the month following the sale. It pays for raw material and labor in the month when they are incurred. Selling and administrative salaries, and other expenses are expected to be $7,000 a month. A tax payment of $15,000 is due in March. A new Machine costing $25,000 will be purchased in February. Depreciation charges are 2,000 per month. CC plans to invest any excess cash in marketable securities and to borrow from the bank to cover any cash shortage. Prepare a cash budget for the three months period: January through March.