Deitz Corporation is projecting a cash balance of $34,500 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $212,750. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $49,450. Other information gathered for the first quarter of 2020 is sale of equipment $3,450; direct labor $80,500, manufacturing overhead $40,250, selling and administrative expenses $51,750; and purchase of securities $16,100. Deitz wants to maintain a balance of at least $28,750 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget . .