Crane Corporation is projecting a cash balance of $31,800 in its December 31,2021 , balance sheet. Crane's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $196,100. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $45,580. Other information gathered for the first quarter of 2022 is sale of equipment $3,180; direct labor $74,200, manufacturing overhead $37,100, selling and administrative expenses $47,700; and purchase of securities $14,840. Crane wants to maintain a balance of at least $26,500 cash at the end of each quarter. Prepare a cash budget for the first quarter. Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Expenses Purchase of Securities Excess of Available Cash Over Cash Disbursements Financing Excess of Available Cash Over Cash Disbursements Ending Cash Balance Financing Purchase of Securities Disbursements Manufacturing Overhead Total Receipts Borrowings. \begin{tabular}{|l|l|l|} \hline & 45,580 & i \\ \hline & & 1 \\ \hline & 74,200 & i \\ \hline & & \\ \hline & 37,100 & i \\ \hline \end{tabular} Direct Labor Selling and Administrative Expenses Collections from Customers Sale of Equipment Beginning Cash Balance \begin{tabular}{|l|l|} \hline & 47,700 \\ \hline \end{tabular} Receipts Repayments Total Disbursements Total Available Cash Direct Materials Excess of Available Cash Over Cash Disbursements \begin{tabular}{|c|c|} \hline \multicolumn{1}{|c|}{14,840} & \\ \hline \hline & 219.420 \\ \hline & i \\ \hline \end{tabular} Financing