Burns Corp. has provided a part of its budget for the second quarter:

	Apr	May	Jun
Cash collections	$42,000	$40,000	$43,000
Cash payments:
Purchases of direct materials	4,500	7,200	5,000
Operating expenses	7,000	6,000	6,000
Capital expenditures	4,000	20,000	10,000

The cash balance on April 1 is $14,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of June.

A.$90,300

B.$40,500

C.$47,300

D.$69,300