Pharoah Company expects to have a cash balance of $44,000 on January 1, 2022. Relevant monthly budget data for the first two months of 2022 are as follows: 1. Collections from customers: January $101,000; February $162,000 2. Payments to suppliers: January $59,000; February $81,000 3. Direct labour: January $29,000; February $45,000. Wages are paid in the month they are incurred. 4. 5. Manufacturing overhead: January $25,000; February $32,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $14,000; 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 $11,000 in cash. Pharoah Company has a line of credit at a local bank. It can borrow up to $30,000. The company wants to keep a minimum monthly cash balance of $30,000. Prepare a cash budget for January and February.