Marigold Corporation is projecting a cash balance of $37,890 in its December 31, 2016, balance sheet. Marigolds schedule of expected collections from customers for the first quarter of 2017 shows total collections of $233,655. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $54,309. Other information gathered for the first quarter of 2017 is sale of equipment $3,789; direct labor $88,410, manufacturing overhead $44,205, selling and administrative expenses $56,835; and purchase of securities $17,682. Marigold wants to maintain a balance of at least $31,575 cash at the end of each quarter.

Add Excess of Available Cash Over Cash Disbursements Sale of Equipment 3789 Total Available Cash 275334 Less Excess of Available Cash Over Cash Disbursements Direct Materials 54309 Direct Labor 88410 i Selling and Administrative Expenses 56835 Purchase of Securities 1682 Total Disbursements 245441 Less Add : Borrowings 1682 Ending Cash Balance 31575