Lee Company's projected sales in units for the first four months of 20X2 are as follows: Units January 130,000 February 100,000 March 180,000 April 220,000 Each unit sells for $25 and costs $10 to acquire from a supplier. The company's cash collectio pattern is as follows: Month of sale 60% Month following sale 25% 2nd month following sale 12% Uncollectible 3% The company's policy is to have enough goods on hand at the end of each month to meet 309 of the next month's sales. Payments to suppliers are as follows: 65% in the month of purchase and 35% in the month following purchase. For March, other operating expenses are expected to be $2,300,000, including $230,000 of depreciation expenses. All operating expenses are paid in the month they occur. Lee Company expects to have $35,000 cash on hand at the beginning of March and wants a minimum cash balance of $25,000. The company has access to a line of credit, and the controller is very interested to know if there will be requirements to draw down the line of credit at any time. Required: Prepare a cash budget for the month of March