Sheridan Company expects to have acash balance of $45,000 on January 1,2022. Relevant monthly budget data for the first two months of 2022 are as follows: 1. Collections from customers: January $100,000 : February $158,000 2. Payments to suppliers January $60,000, February $80,000 3. Direct labour: January $29,000. February $45,000. Wages are paid in the month they are incurred. 4. Manufacturing overhead: January $27,000; February $31,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. 5. Selling and administrative expenses January $14,000, February $21,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of marketable securities in Jamuary are expected to realize $10,000 in cash. Sheridan Company has a line of credit at a local bank it can borrow up to $26.000. The company wants to keep a minimum monthly cash balance of $26,000. Prepare a cash budget for January and February. Merifacturincoucriez De-9212- Finareire Endinecribyance Totalhinancis Brectlabour Total aableces Dibursements Excess of walible astiover cah ditbursoments Borrowire Tutal recoipts Sok of marketable securites Totaldibburements Bepinnireczhbolance Selfine and adminictrative experaes Collectian from customers Exress of avaitible cash over cash disbursements Barrowire Total receints Sak of mariatable securities Totaldaburements Bepinning cahbalance. Selincand aiminstrative openses Collection from custemers 5 45000 Mo Jan Collection of noter rerewalk Drectmaterials Resayment Castrexeips Purchice of land Income taxerpense Exest of avalabie cath over cath dithursements Excess of avallable casti over cath disbursements \#errowine iale d marketable secunties indinecaih balance