Sandhill Company expects to have a cash balance of $119,600 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022. 1. Collections from customers: January $184,600. February $379,600. 2. Payments to suppliers: January $104,000. February $195,000. 3. Wages: January $78,000. February $104,000. Wages are paid in the month they are incurred. 4. Administrative expenses: January $54,600. February $62,400. These costs include depreciation of $2,600 per month. All other costs are paid as incurred. 5. Selling expenses: January $39.000. February $52,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of short-term investments in January are expected to realize $31,200 in cash. Sandhill Company has a line of credit at a local bank that enables it to borrow up to $65.000. The company wants to maintain a minimum monthly cash balance of $52,000. Prepare a cash budget for January and February. (List items that increase cash balance first.) SANDHILL COMPANY Cash Budget January February