Question 7 of 9 -/10 E Pink Martini Corporation is projecting a cash balance of $31,000 in its December 31, 2019, balance sheet Pink Martini's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $179,000. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $44,000. Other information gathered for the first quarter of 2020 is as follows: sale of equipment $5,000; direct labour $63,000, manufacturing overhead $39.000: selling and administrative expenses $50,000; and purchase of securities $12,000. Pink Martini wants to maintain a balance of at least $25,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. PINK MARTINI CORPORATION Cash Budget For the First Quarter Ending March 31, 2020 $ Question 7 of 9 Purchase Of Securities Manufacturing Overhead Selling And Administrative Expenses Collection From Customers Sale Of Equipment Repayment Income Tax Expense Collection Of Notes Receivable Direct Labour Direct Materials Borrowing