Nobel Inc. has a cash balance of $20,000 on April 1, 2015. They are now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows:

There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of April.

Cash collections Cash payments: Purchases of inventory Operating expenses Apr $25,000 5,800 3,500 May $22,000 7,000 4,600 June $20,000 6,200 5,300