A company buys air conditioners for $3900 and sells them for $4800 each; the company has the following sales forecast.

April- 120 units

May 140 Units

June 180 Units

The company wants to maintain ending inventory for each month at 15% of the next month's sales and had 20 units on hand April 1st. The company also has a monthly rent of $15,000 and salaries of $80,000.

The company pays for all inventory purchases and pays for all administrative costs in the month incurred. The company's customers also pay for all products in the month they are purchased.

a) If the company's cash balance on April 1st was $22,000, what was its ending cash balance at the end of May?

b) What dollar amount of inventory would be in the company's budgeted financial statements for May?