Pllows lnc. makes decorative throw pillows for home use. The following information was taken from the Pillows Inc sales budget. The following information was taken frona the Pilows lnc direct materials budget. III (Click the icon to view the first quarter sales budget) (Cilck the icon to view informaton from the direct materials budget) Assume the following additional information was gathered about the types of sales made in the fourth quarter (October through Decernber) of the previous year (Click the icon lo view the fourth quarter sales budget) Data table Data table The company's collection history indicates that 75% of credit sales is collected in the month after the sale, 15% is collected two months after the sale, 8% is collected three months after the sale, and the remaining 2% is never collected Data table Requirements 1. Prepare the cash collections budget for January, February, and March, as well as the summary for the first quarter. 2. Prepare the cash payments budget for-direct materials purchases for the months of January, February, and March, as well as a summary for the quarter