Prepare a cash budget for the month of May 2022 for Burk Corporation using the data below. Assume 80% of sales are on account, $40,000 of every month's manufacturing costs relate to depreciation, $20,000 of $290,000 May selling and administrative expense relates to insurance expense, which is associated with a January premium payment, a cash balance at the end of April of $170,000, and a minimum cash balance of $2,000,000. April 2022 Sales May 2022 Sales May Loan Proceeds April Manufacturing Costs May Manufacturing Costs May Dividend Payment May Interest Payment $3,000,000 $3,500,000 $ 150,000 $ 550,000 $ 600,000 $ 190,000 $ 30,000 70% of sales on account are collected the month of sale; 30% of sales are collected next month. 90% of manufacturing costs are paid in the month incurred and 10% are paid next month.