You are given the following information for Puppy Biscuits Unlimited: March April January February Sales 220,000 260,000 360,000 400,000 Purchases 170,000 184,000 210,000 265,000 General expenses 100,000 100,000 100,000 100,000 All sales are on credit. 58% are collected in the month of sale, 40% in the following month and the remaining 2% are uncollectible. Purchases are paid in full the month following the purchase. General expenses are paid as incurred and include 16,000 in depreciation. The management of Puppy Biscuits like to maintain a minimum of $30,000. Any amount below this can be borrowed in increments of $2,500. All borrowings are made at the end of the month. Required: Prepare the cash budget for the month of February assuming an expected cash balance of 48,000 at the beginning of the month