Current Attempt in Progress Blossom Corporation is projecting a cash balance of $30,000 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 $176,000. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $41,000. Other information gathered for the first quarter of 2022 is as follows: sale of equipment $3,000; direct labour $68,000, manufacturing overhead $32,000; selling and administrative expenses $46,000; and purchase of securities $15,000. Blossom wants to maintain a balance of at least $26,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. BLOSSOM CORPORATION Cash Budget For the First Quarter Ending March 31, 2022 Beginning cash balance $ 30000 Add : Cash receipts Collection from customers 176000 Sale of equipment Total receipts Total available cash Selling and administrative expenses 300019000 Purchase of securities Direct materials 41000 Direct labour 68000 Manufacturing overhead 32000 Total disbursements Excess of cash receipts over cash disbursements Financing Borrowing Repayment Ending cash balance