Mija Co. manufactures calculators. Predicted sales for the second quarter of the year are as fallow: April $50,000 May $75,000 June $45,000 The company expects that 75% of total monthly sales will be collected in cash in the month of sale, and the remaining 25% will be collected in the month following the month of sale. Manufacturing costs, excluding depreciation, are: April $30,000 May $ 40,000 June $ 25,000 Sixty-five percent of manufacturing cost are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. The following financial data is available for March Sales $67,000 Expenses $39.000 Cash balance (March, 1st) $212,000 Cash repayment of the bank loan. $210,000 According to the cash budget for the second quarter of operation, the cash receipts are: April $54,250, May $ 68,750, June $52,500 April $37,500, May $ 56,250, June $33,750 April $16,750, May $ 12,500, June $18,750 April $19,500, May $ 26,000, June $16,250