10 points Duffy Co. has provided a part of its budget for the second quarter: April May June Cash collections $40,000 $40,000 $40,000 Cash payments: Purchases of direct materials $5,000 $ 7,200 $ 4,500 Operating expenses $ 7,000 $ 7,900 $ 7,000 The cash balance on April 1 is expected to be $14,000 and the firm has no plans for financing transactions or capital expenditures during the quarter. Calculate the projected cash balance at the end of April. A. $54,000 B. $42.000 c. $56,900 OD. $85,400