Tortilla Corp. has provided a part of its budget for the second quarter: Apr May JunCash collections $40,000 $40,000 $42,000Cash payments: Purchases of direct materials 7,200 7,000 4,500Operating expenses 7,000 7,000 Capital expenditures 10,000 4,000 20,000The cash balance on April 1 is $14,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of May: (A) $51,800 (B) $69,800 (C) $54,000 (D) $18,000
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