I need the correct answer as per the requirement mentioned above and also please mention the steps for each point

Yancey has $15.000 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yancey has cash payments for selling and administrative expenses including salaries of $70,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $12,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yancey need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February. (Complete all input fields. Enter a "O" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar.) Yancey Company Cash Budget Data Table Two Months Ended January 31 and February 28 January Beginning cash balance February Cash receipts January 532.000 $ 561,000 Sales Cash available 442 300 502.300 Cash payments: 180.344 160,610 Purchases of direct materials Direct labor Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,800 per month) 112,532 134,870 55,058 53.922 Manufacturing overhead Selling and administrative expenses Total cash payments Print Done Fnidina cash balance before financina Enter any number in the edit fields and then click Check Answer. Yancey has $15.000 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yancey has cash payments for selling and administrative expenses including salaries of $70,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $12,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yancey need to borrow cash by the end of February? Cash available Cash payments Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses 1 Data Table Total cash payments January February $ 532.000 $ 561,000 Sales Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing 442 300 502,300 180.344 Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes depreciation of $1,800 per month) 134,870 160,610 112.532 53.922 Borrowing 55,058 Principal repayments Total effects of financing Print Done Ending cash balance Enter any number in the edit fields and then click Check