10 2) Diemans Corp. has provided a part of its budget for the second quarter: Apr May $40,000 $45,000 June $52,000 Cash collections Cash payments: Purchases of inventory Operating expenses Capital expenditures 4,500 7,900 7,200 5,600 20,000 4,500 9,000 4,600 The cash balance on April 1 is $12,000. Assume that there will be no financing transactions or costs during the quarter. a. Calculate the cash balance at the end of April