Cullumber Company expects to have a cash balance of $32,200 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022.

1.		Collections from customers: January $49,700, February $102,200.
2.		Payments to suppliers: January $28,000, February $52,500.
3.		Wages: January $21,000, February $28,000. Wages are paid in the month they are incurred.
4.		Administrative expenses: January $14,700, February $16,800. These costs include depreciation of $700 per month. All other costs are paid as incurred.
5.		Selling expenses: January $10,500, February $14,000. These costs are exclusive of depreciation. They are paid as incurred.
6.		Sales of short-term investments in January are expected to realize $8,400 in cash. Cullumber Company has a line of credit at a local bank that enables it to borrow up to $17,500. The company wants to maintain a minimum monthly cash balance of $14,000.

Prepare a cash budget for January and February.