Janus Inc. needs to prepare a cash budget. The following are actual and forecasted sales figures:

Actual

Forecast

November

December

January

February

March

April

$200,000

$220,000

$280,000

$320,000

$340,000

$330,000

Thirty percent of each months sales are in cash, 50% are paid the month after sale and 20% are paid two months after sale. Materials cost 30% of sales and are purchased one month prior to sale and paid for 30 days later. Labor expense is 40% of sales, selling and administrative expenses are 5% of sales and both are paid in the month of sale. Overhead is $28,000 per month, depreciation expense is $10,000 per month. Taxes of $8,000 will be paid in January and dividends of $2,000 will be paid on March.Cash on hand at the beginning of January is $80,000 and the desired cash balance is $75,000. Prepare the cash budget for January - March.