Perkins Skaters has a line of credit with their bank and must keep a $15,000 minimum balance each month. There is no outstanding loan at the beginning of January. Loans can be borrowed and repaid in any amount. The cash balance on January 1 is expected to be $12,000 and the company can borrow at an interest rate of 3% per annum. Sales were $40,000 in December, and are budgeted to be $20,000 in January and $26,000 in February. All sales are on account and are collected 50% in the month of sale and 50% in the following month. Purchases are budgeted to be $27,000 in January and $5,000 in February. Purchases are paid in full in the month of purchase. All other expenses are listed below, and are all paid in cash in the month incurred: Salaries $2,700 per month Commissions 10% of sales per month Depreciation 2,000 monthly Rent $1500 per month Advertising $2,000 per month Prepare a cash budget for January and February for Perkins Skaters