Lyon Corp. has provided a part of its budget for the second quarter: Apr May Jun $40,000$43,000$50,000 Cash collections Cash payments: Purchases of materials ect720072006000 Operating expenses | 7000 9000 7000 Capital expenditures 500000 The cash balance on April 1 is $12,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of June. A) $59,600 B) $96,600 C) $32,800 D) $109,600