The controller of Stanley Yeinats Inc. asks you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: The company expects to sell about 15% of its merchandise for cash. Of sales on account, 60% are expected to be collected in full in the month following the sale and the remainder in the following month, Depreciation, insurance, and property tax expense represent $10,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in June, and the annual property taxes are paid in October, Of the remainder of the manufacturing costs, 85% are. expected to be paid in the month in which they are incurred and the bulance in the following month. All selling and administrative expenses are paid in the month incurred. Current assets as of January 1 inciude cash of $54,000, marketable securities of $77,000, and accounts recelvable of $169,600($124,000 from December sales and $45,600 from November soles). Sales on account in November and December were $114,000 and $124,000, respectively. Current liabilities as of January 1 include a $71,000,12%,90-doy note payable due March 20 and $10,000 of accounts payable incurred in December for manufacturing costs. It is expected that $4,300 in dividends will be received in January. An estimated income tax payment of \$22,000 will be made in February. Stanley Yeinat's regular quarterly dividend of $10,000 is expected to be declared in February and paid in March. Management desires to maintain a minimum cash balance of $42,000. Required: 1. Prepare a monthly casih budget and supporting schedules for January, February, and March, Enter an increase in the month's cash balance or an excess cash amount as a positive number. Enter a decrease in the month's cash balance or a cash deficiency as a negative number. Assume 360 days per year for interest calculations