Ivanhoe Company expects to have a cash balance of $51,400 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2017. 1. 2. 3. 4. Collections from customers: January $89,300, February $136,200 Payments to suppliers: January $49,300, February $51,400 Wages: January $35,400, February $41,400. Wages are paid in the month they are incurred. Administrative expenses: January $25,400, February $31,500. These costs include depreciation of $1,800 per month. All other costs are paid as incurred. Selling expenses: January $19,400, February $21,500. These costs are exclusive of depreciation. They are paid as incurred. Sales of short-term investments in January are expected to realize $14,700 in cash. Ivanhoe has a line of credit at a local bank that enables it to borrow up to $42,800. The company wants to maintain a minimum monthly cash balance of $25,500. 5. 6. January February Beginning Cash Balance $ Add Receipts Collections from Customers 89,300 136,2 Sale of Short-Term investments 14,700 42, Total Receipts Total Available Cash Less Total Disbursements Payments to Suppliers Wages 35,400 41,4 Administrative Expenses 25,400 31,5 Selling Expenses 19,400 21,5 Total Disbursements Excess (Deficiency) of Available Cash Over Disbursements Financing Borrowings Repayments Ending Cash Balance $ $