Eagle Corp Eagle Corp, a reseller of womens fashions, has budgeted its activity for May. The budget information is presented below:

I.	Sales are $550,000. All sales are cash.
II.	Merchandise inventory on April 30 is $300,000
III.	Budgeted depreciation for May is $35,000.
IV.	Cash in bank on May 1 is $25,000.
V.	Selling and administrative expenses are budgeted at $60,000 for May and are paid in cash.
VI.	The planned merchandise inventory on May 31 is $270,000.
VII.	The invoice cost for merchandise purchases represents 75% of sales price. All purchases are paid for in cash.

Refer to Eagle Corp . The budgeted cash receipts for May are:

	a.	$137,500
	b.	$412,500
	c.	$550,000
	d.	$585,000