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New World has a beginning cash balance of $555 on February 1 st . The firm has projected sales of $690 in January, $830 in

New World has a beginning cash balance of $555 on February 1st. The firm has projected sales of $690 in January, $830 in February, and $910 in March. The cost of goods sold is equal to 65 percent of sales. Goods are purchased one month prior to the month of sale. The accounts payable period is 30 days and the accounts receivable period is 15 days. The firm has monthly cash expenses of $275. What is the projected ending cash balance at the end of February? Assume 30-day months. (Show Work)

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