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

Sales (all credit) Purchases (all credit)

Jan $220,000 $190,000

Feb 260,000 210,000

Mar 270,000 250,000

Apr 290,000 260,000

May 330,000 270,000

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 1st month following, and the remainder in the 2nd month following. At the beginning of January, Louetta has a cash balance of $360,000. What cash balance does Louetta expect to have at the end of March?