Prepare a cash budget for atlas products inc., for the first quarter of 2017, based on the following information:

The budgeting section of the corporate fianc department of Atlas Products has received the following sales estimates from the marketing department:

	Total Sales	Credit Sales
Dec 2016	$825,000	$770,000
Jan 2017	$730,000	$690,000
Feb 2017	$840,000	$780,000
Mar 2017	$920,000	$855,000

The company has found that, on avg, about 25% of its credit sales are collected during the month when the sales is made, and the remaining 75% of credit sales are collected during the month following the sale. As a result, the company uses these figures for budgeting.

The company estimates its purchases at 60% of the next months sales, and payment for those purchases are budgeted to lag the purchases by one month.

Various disbursements have been estimated as follows:

	January	February	March
Wages and Salaries	$250,000	$290,000	$290,000
Rent	$27,000	$27,000	$27,000
Other expeses	$10,000	$12,000	$14,000

In addition, a tax payment of $105,000 is due Jan 15^th, and $40,000 in dividends will be declared in Jan and paid in March. Also, the company has ordered a $75,000 piece of equipment. Delivery is scheduled for early Jan, and payment will be due in Feb.

The companys projected cash balance at the beginning of January is $100,000 and the company desires to maintain a balance of $100,000 at the end of each month.