Question 11 The following information pertains to Hepburn Company: Month Sales Purchases January $62,000 $38,000 February $87,000 $42,000 March $101,000 $56,000 Cash is collected from customers in the following manner Month of sale Month following the sale 40% 60% 45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month Labor costs are 30% of sales Other operating costs are $35,000 per month (including $9000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1 is $18,000. A minimum cash balance of $7000 is required at the end of the month Money can be borrowed in multiples of $1,000 What is the ending cash balance for March? O $6000 O $15,400 $7000 $18,000