Sheridan Company prepares monthly cash budgets. Relevant data from operating budgets for 2022 are as follows.

		January		February
Sales		$410,400		$456,000
Direct materials purchases		136,800		142,500
Direct labor		102,600		114,000
Manufacturing overhead		79,800		85,500
Selling and administrative expenses		90,060		96,900

All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $1,140 of depreciation per month. Other data:

1.		Credit sales: November 2021, $285,000; December 2021, $364,800.
2.		Purchases of direct materials: December 2021, $114,000.
3.		Other receipts: JanuaryCollection of December 31, 2021, notes receivable $17,100; FebruaryProceeds from sale of securities $6,840.
4.		Other disbursements: FebruaryPayment of $6,840 cash dividend.

The companys cash balance on January 1, 2022, is expected to be $68,400. The company wants to maintain a minimum cash balance of $57,000.

(b)

Prepare a cash budget for January and February in columnar fom.