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Lily Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2022. All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere. Beginning cash balance $33,000 Required minimum cash balance 27,500 Payment of income taxes (2nd quarter) 4,400 Professional salaries: 1st quarter 154,000 2nd quarter 154,000 Interest from investments (2nd quarter) 7.700 Overhead costs: 1st quarter 84,700. 2nd quarter 110,000 Selling and administrative costs, including $2,200 depreciation: Selling and administrative costs, including $2,200 depreciation: 1st quarter 55,000 2nd quarter 77,000 Purchase of equipment (2nd quarter) 55,000 Sale of equipment (1st quarter) 13,200 Collections from patients: 1st quarter 258,500 2nd quarter 418,000 Interest payments (2nd quarter) 220 Prepare a cash budget for each of the first two quarters of 2022. LILY DENTAL CLINIC Cash Budget # 1st Quarter $ 2nd Quarter