Cullumber Company expects to have a cash balance of $61,650 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017.

1.		Collections from customers: January $86,650, February $161,650.
2.		Payments to suppliers: January $55,650, February $90,650.
3.		Wages: January $30,490, February $40,490. Wages are paid in the month they are incurred.
4.		Administrative expenses: January $21,490, February $24,490. These costs include depreciation of $1,000 per month. All other costs are paid as incurred.
5.		Selling expenses: January $15,490, February $20,490. These costs are exclusive of depreciation. They are paid as incurred.
6.		Sales of short-term investments in January are expected to realize $12,490 in cash. Cullumber Company has a line of credit at a local bank that enables it to borrow up to $25,000. The company wants to maintain a minimum monthly cash balance of $35,650.

Prepare a cash budget for January and February.