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Sheffield Company expects to have a cash balance of $45,000 on January 1, 2022. Relevant monthly budget data for the first two months of 2022 are as follows: 1. Collections from customers: January $99,000; February $160,000 2. Payments to suppliers: January $59,000; February $82,000 3. Direct labour: January $31,000; February $46,000. Wages are paid in the month they are incurred. 4. Manufacturing overhead: January $27,000; February $30,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. 5. Selling and administrative expenses: January $13,000; February $19,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of marketable securities in January are expected to realize $10,000 in cash. Sheffield Company has a line of credit at a local bank. It can borrow up to $25,000. The company wants to keep a minimum monthly cash balance of $25,000. Prepare a cash budget for January and February.SHEFFIELD COMPANY Cash Budget For the Two Months Ending February 28, 2022 Month Jan Feb Total receipts Manufacturing overhead Direct labour Repayment Total Financing Collection of notes receivable Ending cash balance Excess of quollable cash over coach disbursementa Borrowing Selling and adminborethe expenses Total available cash Total disbursements Collection from customers Beginning cash balance Income tax expense Cash receipts Financing Sale of marketable securities Direct materials VPrepare = cash budget for January and February. SHEFFIELD COMPANY Cash Budget For the Two Months Ending February 28, 2022 Month Jan Feb v Add v v vSHEFFIELD COMPANY Cash Budget For the Two Months Ending February 28, 2022 Month Total Jan Feb