lpd logistics inc projected sales for the first six months of 2010 are given below

jan $300,000

feb 350,000

mar 475000

april 350000

may 500000

june 400000

20% of sale are collected in the month of the sale,75% are collected in the month of the following sale.

purchases are made the month prior to the sales and are paid during the month the purchases are made i.e goods are sold in march are bought and paid for in february.

total other cash expenses are $35,000/month

the company's balance as of february 1 2010 will be $30,000

excess cash will be used to retire short term borrowing.

lpd has no short term borrowing as of february 28 2010.

assume that the interest rate on short term borrowing is 1% per month

the company must have a minimum cash balance of $20,000 at the beginning of each month.

what is LPD's projected cash balance as of Aprl 1 2010?