Danner Company expects to have a cash balance of $52,650 on January 1,2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $99,450. February $175,500 Payments for direct materials: January $58,500. February $87,750. Direct labor: January $35,100. February $52,650. Wages are paid in the month they are incurred Manufacturing overhead: January $24,570. February $29,250. These costs include depreciation of $1,755 per month. All other overhead costs are paid as incurred Seiling and administrative expenses: January $17,550. February $23,400. These costs are exclusive of depreciation, They are pald as incurred. Sales of marketable securities in January are expected to realize $14,040 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $29,250. The company wants to maintain a minimum monthly cash balance of $23,400. Prepare a cash budget for January and February. Cash Budget February 5 5