On March 1 of the current year, Spicer Corporation compiled information to prepare a cash budget for March, April, and May. All of the companys sales are made on account. The following information has been provided by Spicers management:

Month	Credit Sales
January	$ 300,000	(actual)
February	400,000	(actual)
March	465,000	(estimated)
April	762,000	(estimated)
May	800,000	(estimated)

The companys collection activity on credit sales historically has been as follows:

Collections in the month of the sale	50%
Collections one month after the sale	30
Collections two months after the sale	15
Uncollectible accounts	5

Spicers total cash expenditures for March, April, and May have been estimated at $1,200,000 (an average of $400,000 per month). Its cash balance on March 1 of the current year is $500,000. No financing or investing activities are anticipated during the second quarter.

Required:

Compute Spicers budgeted cash balance at the ends of March, April, and May.