For the first quarter of $2022,$ prepare a cash budget. $($Round answers to $0$ decimal places, e$.$g$.2,520.$

Waterways Corporation is preparing its budget for the coming year, $2022.$ The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. Sales Unit sales for November $2021112,000$ Unit sales for December $2021101,000$ Expected unit sales for January $2022114,000$ Expected unit sales for February $2022112,000$ Expected unit sales for March $2022115,000$ Expected unit sales for April $2022127,000$ Expected unit sales for May $2022136,000$ Unit selling price $$12$ Waterways likes to keep $10\%$ of the next month's unit sales in ending inventory. All sales are on account. $85\%$ of the Accounts Receivable are collected in the month of sale, and $15\%$ of the Accounts Receivable are collected in the month after sale. Accounts receivable on December $31,2021,$ totaled $$181,800.$ Direct Materials Direct materials cost $80$ cents per pound. Two pounds of direct materials are required to produce each unit. Waterways likes to keep $5\%$ of the materials needed for the next month in its ending inventory. Raw Materials on December $31,2021$ totaled $11,380$ pounds. Payment for materials is made within $15$ days. $50\%$ is paid in the month of purchase, and $50\%$ is paid in the month after purchase. Accounts Payable on December $31,2021,$ totaled $$120,595.$ Direct Labor Labor requires $12$ minutes per unit for completion and is paid at a rate of $$9$ per hour. Manufacturing Overhead Indirect materials $30$ per labor hour Indirect labor $50$ per labor hour Utilities $40$ per labor hour Maintenance $30$ per labor hour Salaries $$41,000$ per month Depreciation $$16,200$ per month Property taxes $$3,000$ per month Insurance $$1,100$ per month Maintenance $$1,100$ per month

Selling and Administrative Variable selling and administrative cost per unit is $$1\mathrm{.}50.$ Advertising Insurance Salaries Depreciation $$15,000$ a month $$1,400$ a month $$71,000$ a month $$2,300$ a month Other fixed costs $$3,000$ a month Other Information The Cash balance on December $31,2021,$ totaled $$101,000,$ but management has decided it would like to maintain a cash balance of at least $$800,000$ beginning on January $31,2022.$ Dividends are paid each month at the rate of $$2\mathrm{.}40$ per share for $5,340$ shares outstanding. The company has an open line of credit with Romney's Bank. The terms of the agreement requires borrowing to be in $$1,000$ increments at $9\%$ interest. Waterways borrows on the first day of the month and repays on the last day of the month. A $$460,000$ equipment purchase is planned for February.