Whispering Winds Company expects to have a cash balance of $43,000 on January 1, 2022. Relevant monthly budget data for the first two months of 2022 are as follows: 1. Collections from customers: January $100,000; February $162,000 2. Payments to suppliers: January $61,000; February $79,000 3. Direct labour: January $30,000; February $44,000. Wages are paid in the month they are incurred. 4. 5. Manufacturing overhead: January $25,000; February $31,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $15,000; February $19,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of marketable securities in January are expected to realize $11,000 in cash. Whispering Winds Company has a line of credit at a local bank. It can borrow up to $24,000. The company wants to keep a minimum monthly cash balance of $24,000. Prepare a cash budget for January and February. WHISPERING WINDS COMPANY Cash Budget For the Two Months Ending February 28, 2022 Direct materials Ending cash balance Repayment Direct labour Borrowing Manufacturing overhead Beginning cash balance Cash receipts Selling and administrative expenses Total available cash Total receipts Financing Collection from customers Sale of marketable securities Collection of notes receivable Disbursements Income tax expense Purchase of land Excess of available cash over cash disbursements Total disbursements Total financing Month Jan Feb Total A