Given the following Information, the expected cash balance at the end of February Is January February March April Sales $120,000 110,000 125,000 130,000 Purchases $78,200 66,200 81,450 84,700 Expenses $24,200 24,400 27,200 28,800 Sales are collected 50% In the month of sale, 30% In the month following sale, and 19% In the second month following sale. One percent of sales is uncollectible and expensed at the end of the year. All purchases are paid for in the month following purchase and takes advantage of a 3% discount. The following balances are as of January 1: Cash Accounts receivable* Accounts payable $88,000 58,000 72,000 *Of this balance, $35,000 will be collected in January and the remaining amount will be collected in February The monthly expense figures include $5,000 of depreciation. The expenses are paid in the month incurred. $112.706. $92,200. $94,360