Sheridan Company expects to have a cash balance of $45,000 on January 1, 2022. Sheridan has budgeted the following for the first two months of the year 2022: 1. Collections from customers: January $89,800; February $109,200. 2. Payments to suppliers: January $40,100; February $49,900. 3. 4. 5. 6. Direct labour: January $29,800; February $35,000. Wages are paid in the month they are incurred. Manufacturing overhead: January $25,100; February $29,900. Overhead costs are paid as incurred. Selling and administrative expenses: January $15,900; February $21,800. These costs do not include depreciation and they are paid as incurred. Sales of investments in January are expected to realize $10,100 in cash. Sheridan Company wants to keep a minimum monthly cash balance of $20,000. Ignore any interest on amounts borrowed.