Sheffield Corporation is projecting a cash balance of $37,800 in its December 31, 2021, balance sheet. Sheffield's schedule of expected collections from customers for the first quarter of 2022 shows total collections of $233,100. The schedule of expected payments for direct materials for the first quarter of 2022 shows total payments of $54,180. Other information gathered for the first quarter of 2022 is sale of equipment $3.780; direct labor $88,200, manufacturing overhead $44,100, selling and administrative expenses $56,700; and purchase of securities $17.640. Sheffield wants to maintain a balance of at least $31,500 cash at the end of each quarter. Prepare a cash budget for the first quarter. SHEFFIELD CORPORATION Cash Budget