(20 POINTS) The following data pertains to Louetta Mfg., which was founded on January 1^st.

Sales (all credit) Purchases (all credit)

Jan $240,000 $180,000

Feb 220,000 160,000

Mar 210,000 150,000

Apr 190,000 160,000

May 230,000 170,000

Louetta pays for purchases over two months: 20% in the month of purchase and the remainder in the following month. Louetta expects to collect on sales over three months: 20% in the month of sale, 25% in the 1^st month following, and the remainder in the 2^nd month following. At the beginning of January, Louetta has a cash balance of $160,000. What cash balance does Louetta expect to have at the end of March?

ANSWER: ___________________

	From	Jan	Feb	March
	Jan
	Feb
	March

	From	Jan	Feb	March
	Jan
	Feb
	March