Current Attempt in Progress Waterway Company expects to have a cash balance of $ 57,600 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $ 108,800, February $ 192,000. Payments for direct materials: January $ 64,000, February $ 96,000. Direct labor: January $ 38,400, February $ 57,600. Wages are paid in the month they are incurred. Manufacturing overhead: January $ 26,880, February $32,000. These costs include depreciation of $ 1,920 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $ 19,200, February $ 25,600. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $ 15,360 in cash. Waterway Company has a line of credit at a local bank that enables it to borrow up to $ 32,000. The company wants to maintain a minimum monthly cash balance of $ 25,600. Prepare a cash budget for January and February. WATERWAY COMPANY Cash Budget January Februa $ $ >