Crane Company expects to have a cash balance of $27,600 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022 1. 2. 3. 4. Collections from customers: January $42.600. February $87,600 Payments to suppliers: January $24,000. February $45.000 Wages: January $18,000, February $24,000. Wages are paid in the month they are incurred Administrative expenses: January $12,600, February $14.400. These costs include depreciation of $600 per month. All other costs are paid as incurred. Selling expenses: January 59.000, February $12.000. These costs are exclusive of depreciation. They are paid as incurred. Sales of short-term investments in January are expected to realize $7.200 in cash. Crane Company has a line of credit at a local bank that enables it to borrow up to $15,000. The company wants to maintain a minimum monthly cash balance of $12.000 5. 6. Prepare a cash budget for January and February (List items that increase cash balance first) CRANE COMPANY Cash Budget