Question 31 Not yet answered Points out of 5.00 Marina Hotel is a 170-room hotel and below is the forecasted Revenues for the upcoming three months. You are planning to renovate the hotel, which will cost $1,200,000. April May June Rooms Sold 4080 3570 3468 Rooms Revenue $489,600 $392,700 $364,140 Flag question Cash sales are estimated to be 30 percent of total sales, and cash from credit sales are received after one month. Credit sales from previous month (March) was $360,000. Variable costs are estimated to be 25 percent of total sales. Fixed costs are estimated to be $125,000 a month. Hotel has no loan payments. Renovation cost ($1,200,000) will be paid half in May and rest in June. Beginning cash balance of Cash is $450,000. What will be Ending Cash Balance in June? Select one: 0 a $85,068 O b. $346,835 C. $1,114,932 d. ($85,068)