On January 1, Easton Company had cash on hand of $105,000.All of January's $216,000 sales were on account. December sales of $222,000 were also all on account.Experience has shown that Easton typically collects 40% of receivables in the month of the sale and the balance the following month.All materials and supplies are purchased on account and Easton has a history of paying for half of these purchases in the month of purchase and half the following month.Such purchases were $156,000 for December and $181,000 for January.All other expenses including wages are paid in the month incurred.These amounted to $42,000 in December and $68,000 in January.Use this information to determine the projected ending balance of cash on hand for January.