Current Attempt in Progress Blossom Corporation is projecting a cash balance of $24,000 in its December 31, 2021, balance sheet. Blossom's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $148,000. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $34,400. Other information gathered for the first quarter of 2022 is sale of equipment $2,400; direct labor $56,000, manufacturing overhead $28,000, selling and administrative expenses $36,000; and purchase of securities $11.200. Blossom wants to maintain a balance of at least $20,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. BLOSSOM CORPORATION Cash Budget