Moria Company has made the following estimates for the month of December:

Cash sales

$ 380,000

Beginning cash balance

$ 30,000

Operating expenses*

$ 420,000

Interest expense, which is included in operating expenses

$ 12,000

Borrowings

$ 50,000

End of period accrued liabilities, included in operating expenses

$ 20,000

*Includes depreciation expense of $20,000

What is the projected ending cash balance?

Select one:

a. $48,000

b. $80,000

c. $52,000

d. $40,000