Current Attempt in Progress Waterway Company expects to have a cash balance of $44,000 on January 1, 2022 Relevant monthly budget data for the first two months of 2022 are as follows: 1 2 3 4 Collections from customers: January $100,000, February $156,000 Payments to suppligrs: January $60,000, February $82,000 Direct labour: January $30,000, February $47,000. Wages are paid in the month they are incurred. Manufacturing overhead: January $26.000; February $29,000. These costs include depreciation of $1.000 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $16,000; February $20,000. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $11,000 in cash. 5. 6. Waterway Company has a line of credit at a local bank. It can borrow up to $24.000. The company wants to keep a minimum monthly cash balance of 524 000 Prepare a cath budget for January and February WATERWAY COMPANY Cash Budget For the Two months Ending February 28, 2022 Month Cash Budget For the Two Months Ending February 28, 2022 Month Jan Feb Total available cash 44,000 $ 24,000 $ Add : Cash receipts Collection from customers 100,000 156,000 Sale of marketable securities 11.000 0 Total receipts Total available cash Less : Disbursements Purchase of land Direct labour Manufacturing overhead Cash Budget For the Two Months Ending February 28, 2022 Month Jan Feb Total 44.000 24,000 $ 100,000 156,000 11,000 Manufacturing overhead Selling and administrative expenses Total disbursements Excess of available cash over cash disbursements : Borrowing Income tax expense Repayment Total financing . : Ending cash balance Tavthat and Martia sensies cash disbursements e. $