Walter Company has the following information for the month of March: Walter pays all expenses in the month incurred. Manufacturing overhead includes $1, 600 for machinery depreciation, but the amount for selling and administrative expenses is exclusive of depreciation. Additionally, Walter also expects to buy a piece of property for $7, 800 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $10,000. Required: Prepare Walter's cash budget for the month of March