Walter Company has the following information for the month of March: Cash balance, March 1 $ 19,320 Collections from customers 46,500 Paid to suppliers 24,300 Manufacturing overhead 8,100 Direct labor 9,250 Selling and administrative expenses 6,200 Walter pays all expenses in the month incurred. Manufacturing overhead includes $2,200 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 $9,000 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $20,000. Required: Prepare Walters cash budget for the month of March.