Prepare a cash budget for the first quarter. WATERWAY CORPORATION Cash Budget For the Quarter Ended March 31, 2022 Beginning Cash Balance Add Receipts Collections from Customers Sale of Equipment Total Receipts Total Available Cash Less Disbursements Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Expenses Purchase of Securities Total Disbursements Excess of Available Cash Over Cash Disbursements Financing Add Borrowings Less 1 Repayments Ending Cash Balance $ Waterway Corporation is projecting a cash balance of $38.400 in its December 31, 2021, balance sheet. Waterway's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $236,800. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $55,040. Other information gathered for the first quarter of 2022 is sale of equipment $3,840; direct labor $89,600, manufacturing overhead $44,800, selling and administrative expenses $57,600; and purchase of securities $17,920. Waterway wants to maintain a balance of at least $32,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. WATERWAY CORPORATION Cash Budget For the Quarter Ended March 31, 2022 Beginning Cash Balance $ $ Add: Receipts Collections from Customers Sale of Equipment Total Receipts Total Available Cash Less: Disbursements Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Expenses