Help Save & Ex 14 Hilliard Company budgeted the following transactions for April Year 2: Sales (75% collected in month of sale) $200, 000 Cash operating expenses 105, 000 4.5 Cash purchases of investments 75, 000 points Cash payment of debt 15, 000 00:47:21 Depreciation on operating assets 12,000 The beginning cash balance was $50,000. The company desires to have a $25,000 ending cash balance. The surplus (or shortage) of cash before considering any borrowings in April would be: Multiple Choice $40,000 surplus. O $40,000 shortage