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Shamrock Company expects to have a cash balance of $ 47,000 on January 1, 2022. Relevant monthly budget data for the first two months of 2022 are as follows: 1. 2. 3. Collections from customers: January $ 102,000; February $ 157,000 Payments to suppliers: January $ 60,000; February $ 80,000 Direct labour: January $ 29,000; February $ 46,000. Wages are paid in the month they are incurred. Manufacturing overhead: January $ 24,000; February $ 31,000. These costs include depreciation of $ 1,000 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $ 15,000; February $ 21,000. These costs are exclusive of depreciation. They are paid as incurred. 4. 5. 6. Sales of marketable securities in January are expected to realize $ 9,000 in cash. Shamrock Company has a line of credit at a local bank. It can borrow up to $ 31,000. The company wants to keep a minimum monthly cash balance of $ 31,000. Prepare a cash budget for January and February. Beginning cash balance Add Cash recept Collection from customers Sale of marketable securities Total receipts Total avaliable can Less Dabarmente Direct materials Direct labour Manufacturing overhead Selling and administrative expenses Total deursement Excess of avaliable ceshaver cash disbursements Financing Borrowing Repayment Total manding Ending cash balance Cash Budget For the Two Months Ending February 28, 2022 Month Jan Feb Total S S S S