For the First Quarter Ending March 31, 2022 Beginning cash balance Excess of cash receipts over cash disbursements Direct labour Income tax expense Cash receipts Financing Collection of notes receivable Selling and administrative expenses Total financing Sale of equipment Repoyment Disbursements Purchase of securities Collection from customers Direct materials Borrowing Manufacturing overhead Total recelpts Total disbursements Total avallable cash Ending cash balance Collection from customers Total available cash Ending cash balance Purchase of securities Income tax expense Collection of notes receivable Sale of equipment Financing Cash receipts Borrowing Repayment Total disbursements Selling and administrative expenses Total receipts Excess of cash receipts over cash disbursements Disbursements Total financing Manufacturing overhead Direct labour Direct materials Beginning cash balance Indigo Corporation is projecting a cash balance of $28,000 in its December 31.2021 , balance sheet. Indigo's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $182000. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $40,000. Other information gathered for the first quarter of 2022 is as follows: sale of equipment $3,000; direct labour $72,000, manufacturing overhead $31,000; selling and administrative expenses $46,000, and purchase of securities $16,000. Indigo wants to maintain a balance of at least $27,000 cash at the end of each quarter. Prepare a cash budget for the first quarter