On March 1 of the current year, Spicer Corporation complied information to prepare a cash budget for Mrwch, April, and May Al of the compnny's sales are made on account. The following information has been provided by 5 picer's management. The company's collection activity on credit sales historically has been as follows. Spicer's total cash expenditures for March, April, and Moy have been estimated at $1,200,000 (an average of $400,000 per monthk its cash baiance on Mocch 1 of the cutrent year is $500.000. No financing of investing activities are anticpsted durfig the second quartet. Compute Spicer's budgeted cast balance at the ends of March, Apri, and May