Deitz Corporation is projecting a cash balance of $35,100 in its December 31, 2019, balance sheet. Deitzs schedule of expected collections from customers for the first quarter of 2020 shows total collections of $216,450. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $50,310. Other information gathered for the first quarter of 2020 is sale of equipment $3,510; direct labor $81,900, manufacturing overhead $40,950, selling and administrative expenses $52,650; and purchase of securities $16,380. Deitz wants to maintain a balance of at least $29,250 cash at the end of each quarter. Prepare a cash budget for the first quarter.