Relevant data from the Poster Companiy's operating budgets are: Quarter 1 Quarter 2 Sales $208,460 $211,539 Direct material purchases 115,290 120,833 Direct labor 75,205 73,299 Manufacturing overhead 25,400 25,400 Selling and administrative expenses 33,500 33,400 Depreciation included in selling and administrative 1,400 1,100 Collections from customers 215,393 240,155 Cash payments for purchases 114,295 119,253 Additional data: Capital assets were sold in January for $9,000 and $4,400 in May. Dividends of $4,400 were paldin February. The beginning cash balance was $60,360 and a required minimum cash balance is $60,6 Use this information to prepare a cash budget for the first two quarters of the year: 1 an amount box does not require an entry, Ina The Poster Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 Add: Cash Receipts Total Receipts Total Available Cash Les Cash Payments IQ TO DDDDDDDD DDDDDDDDDDDDD Total Cash Payments Txes (Deficiency of Available Cash Over Cash Deshments Financing Ending balance