Blueline Printing's board of directors was presented with the following information about operations for an upcoming three-month period. The board desires to declare a dividend at the end of June, but still maintain cash on hand of $350,000. Blueline began April with $78,000 of cash on hand. Prepare a cash budget, and determine how much cash will be available for the dividend.

April May June

	April	May	June
Customer receipts	$750,000	$780,000	$820,000
Cash paid for direct materials	220,000	225,000	270,000
Cash paid for direct labor	250,000	270,000	350,000
Factory overhead*	150,000	150,000	158,000
SG&A**	88,000	90,000	85,000
Taxes	17,000	19,000	17,000
Equipment purchase***			500,000
* Includes monthly depreciation of $100,000
** Includes monthly depreciation of $25,000
*** Equipment purchase to be paid for in July

A.

Available for dividend

$84,000

B.

Available for dividend

$94,000

C.

Available for dividend

$96,000

D.

Available for dividend

$97,000

E.

Available for dividend

$98,000

F.

None of the above