Lily Company expects to have a cash balance of $37.800 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows. Collections from customers: January $71,400, February $126,000. Payments for direct materials: January $42,000, February $63,000. Direct labor: January $25,200. February $37,800. Wages are paid in the month they are incurred. Manufacturing overhead; January $17,640. February $21,000. These costs include depreciation of $1,260 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $12,600. February $16,800. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $10,080 in cash. Lily Company has a line of credit at a local bank that enables it to borrow up to $21,000. The company wants to maintain a minimum monthly cash balance of $16,800. Prepare a cash budget for lanuary and February. LILY COMPANY Cash Budget Fos the Two Month Endins February 20.2022 Bevinning Cast Balance Add Y : 1 Reccipts Eolectorifrom orstemers Sale of Minktakescoingsis Total Avalibible Casp