Current Attempt in Progress Wildhorse Company expects to have a cash balance of $73,600 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022 1. 2. 3 4. Collections from customers: January $113,600, February $233,600 Payments to suppliers: January $64,000, February $120,000 Wages: January $48,000, February $64.000. Wages are paid in the month they are incurred Administrative expenses: January $33,600, February $38,400. These costs include depreciation of $1,600 per month. All other costs are paid as incurred. Selling expenses: January $24,000, February $32,000. These costs are exclusive of depreciation. They are paid as incurred Sales of short-term investments in January are expected to realize $19,200 in cash. Wildhorse Company has a line of credit at a local bank that enables it to borrow up to $40,000. The company wants to maintain a minimum monthly cash balance of $32,000 5. 6. Prepare a cash budget for January and February (List items that increase cash balance first.) WILDHORSE COMPANY Cash Budget January February