Exercise 7-17 Crane Company expects to have a cash balance of $133,400 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022. 1. Collections from customers: January $205,900, February $423,400. Payments to suppliers: January $116,000, February $217,500. Wages: January $87,000, February $116,000. Wages are paid in the month they are incurred. Administrative expenses: January $60,900, February $69,600. These costs include depreciation of $2,900 per month. All other costs are paid as incurred. 5. Selling expenses: January $43,500, February $58,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of short-term investments in January are expected to realize $34,800 in cash. Crane Company has a line of credit at a local bank that enables it to borrow up to $72,500. The company wants to maintain a minimum monthly cash balance of $58,000.CRANE COMPANY Cash Budget January February Beginning cash balance 133400 $ Add + : Cash receipts Collections from customers T Sale of short-term investments Total receipts Total available cash Less # : Repayments