Danner Company expects to have a cash balance of $54,450 on January 1, 2020. The relevant monthly budget data for the first 2 months of 2020 are as follows.

Collections from customers: January $102,850, February $181,500.

Payments for direct materials: January $60,500, February $90,750.

Direct labor: January $36,300, February $54,450. Salaries are paid in the month in which they are incurred.

Manufacturing overhead: $25,410 in January, $30,250 in February. These costs include depreciation of $1,815 per month. All other overheads are paid as they occur.

Selling and administrative expenses: January $18,150, February $24,200. These costs exclude depreciation. It is paid as it happens.

Securities sales are expected to be $14,520 in cash in January. Danner Company has a line of credit that allows it to borrow up to $30,250 at a local bank. The company wants to maintain a minimum monthly cash balance of $24,200.

Prepare a cash budget for January and February.