Westlake Inc. is preparing its cash budget for the first two months of the year. The following information is provided. January February Collections from customers $350,000 $400,000 Payments to suppliers $140,000 $110,000 Direct labour* $95,000 $112,000 Manufacturing overhead* (include depreciation of $4,000 per month) $60,000 $75,000 Selling and administrative expenses* (exclusive of depreciation) $75,000 $80,000 *Assume payments are made in the month incurred Westlake Inc. has an open line of credit. The company wants to keep a minimum cash balance of $40,000. On January 1, it had a cash balance of $50,000. Create a cash budget for January and February and total for the two months (15 marks)