Exercise 23-14 Danner Company expects to have a cash balance of $59,040 on January 1, 2017. Relevant monthly budget data for the first 2 months of 2017 are as follows: Collections from customers: January $111,520, February $196,800. Payments for direct materials: January $65,600, February $98,400 Direct labor: January $39,360, February $59,040. Wages are paid in the month they are incurred. Manufacturing overhead: January $27,552, February?32,800. These costs include depreciation of$1,968 per month. All other overhead costs are paid as incurred Selling and administrative expenses: January $19,680, February $26,240. These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $15,744 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $32,800. The company wants to maintain a minimum monthly cash balance of $26,240 Prepare a cash budget for January and February. (Do not leave any answer field blank. Enter "O" for amounts.)