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

	Apr	May	Jun
Cash collections	$42,000.00	$40,000.00	$52,000.00
Cash payments:
Purchases of direct materials	5,000	7,200	6,000
Operating expenses	7,200	7,900	7,000
Capital expenditures	4,600	5,000	0

The cash balance on April 1 is

$12,000.00.

Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of April.