Lily Corporation is projecting a cash bolance of $33,000 in its December. 31,2021 , balance sheet. Lily's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $203,500. The schedule of expected payments for direct materiaas for the first quarter of 2022 shows total payments of $47,300. Other information gathered for the first quarter of 2022 is sale of equipment $3,300; direct labor $77,000, manufacturing overhead $38,500, selling and administrative expenses \$49,500: and purchase of securities $15,400. Lily wants to maintain a balance of at least $27.500 cash at the end of each quarter