Elk, Inc. purchases inventory on account. Its budgeted sales for May 2023 are $26,000. This reflects a 100% markup on inventory cost. Elk's May budget included the following additional information related to inventory purchases and payments: May 1, 2023 inventory $30,000 May 1, 2023 accounts payable $4,000 May 31, 2023 inventory $36,500 May 31, 2023 accounts payable $4,700 Based on this information, calculate Elk's budgeted cash payments for inventory for May, 2023. O $20,200 O $33,200 $31,800 O $18,800