Current Attempt in Progress Kingbird Corporation is projecting a cash balance of $32,000 in its December 31, 2021, balance sheet. Kingbird's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $182,000. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $40,000. Other information gathered for the first quarter of 2022 is as follows: sale of equipment $1,000; direct labour $73,000, manufacturing overhead $38,000; selling and administrative expenses $43,000; and purchase of securities $15,000. Kingbird wants to maintain a balance of at least $27,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. > >>>>>>>>>>>>>>>>>