A company is preparing its cash budget for the second quarter of the year. It has $10,000 in cash on March 31. Sales for the quarter are expected to be $300,000, all in cash. Operating expenses are expected to be $65,000, which includes $15,000 of depreciation. Cash expenses are paid in the month incurred. Cash payments for merchandise inventory purchases are expected to be $270,000. The desired cash balance on June 30 is $20,000. How much financing will the company need during the quarter?