Month January February March Sales $65,000 $88,000 $110,000 Purchases $40,000 $48,000 $62,000 Cash is collected from customers in the following manner: Month of sale 35% Month following the sale 65% 50% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 20% of sales. Other operating costs are $34,000 per month (including $10,000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1 is $12,300. A minimum cash balance of $8,000 is required at the end of the month. Money can be borrowed in multiples of $1,000. What is the ending cash balance for March? A. $8,000 B. $7,000 C. $4,600 D. $12,300