Coronado Company prepares monthly cash budgets. Relevant data from operating budgets for 2022 are as follows. January February Sales $331,200 $368,000 Direct materials purchases 110,400 115.000 Direct labor 82.800 92,000 Manufacturing overhead 64.400 69,000 Selling and administrative expenses 72.680 78,200 All sales are on account Collections are expected to be 50% in the month of sale 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $920 of depreciation per month Other data 1 Credit sales: November 2021 $230,000: December 2021, $294400. 2 Purchases of direct materials: December 2021, 892.000 3 Other receipts: January-Collection of December 31, 2021, notes receivable $13.800, February-Proceeds from sale of securities $5.520 Other disbursements FebruaryPayment of $5.520 cash dividend The company's cash balance on January 1, 2022 expected to be 355.200 The company wants to maintain a minimum cash balance of $46.000 CORONADO COMPANY Schedule of Expected Collections from Customers January February November December January February Total collections CORONADOCOMPANY Schedule of Expected Payments for Direct Materials January February December January February Toalets e Textbook and Media Attempt of used