Napa Valley Wines opened a new store and completed the following transactions during June:

Shareholders invested $250,000 cash in exchange for common stock.

Purchased a delivery truck for $15,000 cash.

Purchased $5,000 of wine on account. Paid $3,000 toward the outstanding account balance. At the end of the month, $400 of inventory remained on hand.

Paid $6,000 for selling expenses.

Sold wine to customers and collected $18,000 cash. Billed corporate clients for an additional $2,500 of wine delivered during June.

How much will the company report on its Balance Sheet as Cash on June 30?

a. 54,400

b. 56,800

c. 144,000

d. 244,000