23) Johnson Company has gathered the following information: April 30, beginning cash balance $ 85,000 Dividends paid in May $ 24,000 Cash expenditures in May for operating expenses $ 73,600 Depreciation expense in May $ 9,000 Cash collections in May $178,000 Merchandise purchases paid in cash in May $112,400 Purchased equipment for cash in May $ 35,000 Johnson desires to keep a minimum cash balance of $ 20,000 Prepare a cash budget for May. What is Johnson Company's cash balance at the end of May? (to nearest dollar)