Sunland Company expects to have a cash balance of $42,300 on January 1, 2022. Relevant monthly budget data for the first 2 months of 2022 are as follows.

Collections from customers: January $79,900, February $141,000.

Payments for direct materials: January $47,000, February $70,500.

Direct labor: January $28,200, February $42,300. Wages are paid in the month they are incurred.

Manufacturing overhead: January $19,740, February $23,500. These costs include depreciation of $1,410 per month. All other overhead costs are paid as incurred.

Selling and administrative expenses: January $14,100, February $18,800. These costs are exclusive of depreciation. They are paid as incurred.

Sales of marketable securities in January are expected to realize $11,280 in cash. Sunland Company has a line of credit at a local bank that enables it to borrow up to $23,500. The company wants to maintain a minimum monthly cash balance of $18,800. Prepare a cash budget for January and February.