QUESTION 27 The following information pertains to Hepburn Company: Month January February March Sales $63,000 $82,000 $102,000 Purchases $39,000 $44,000 $57,000 Cash is collected from customers in the following manner: Month of sale 35% Month following the sale 65% 40% 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 $32,000 per month (including $9000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1 is $15,800. A minimum cash balance of $3000 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? $15,800 $2000 $9800 $3000