The following information for the month of May has been provided for Bowser Company:

May 1, cash balance	$	56,000
Cash collections anticipated in May		68,000
Expected May cash expenditures for operating expenses		22,600
Inventory purchases to be paid in May		54,200
Cash dividends declared in May and to be paid in June		18,000
May depreciation expense		9,600
Interest income to be received from investments		4,200
Production equipment purchase 50% of which will be paid in May and the balance will be paid in June		66,000

(a.) Prepare a cash budget for May.