California Products Company has the following data as part of its budget for the 2nd quarter:

Apr May Jun

Cash collections $30,000 $32,000 $36,000

Cash payments:

Purchases of inventory 4,500 4,600 3,800

Operating expenses 7,200 7,600 8,000

Capital expenditures 0 24,500 5,200

The cash balance at April 1 is forecast to be $8,200. Assume that there will be no financing transactions or costs during the quarter. Based on the above information only, what will the cash balance be at May 31? A. $40,800 B. $33,900 C. $26,500 D. $21,800