Required information TES 417 Inc. is a retailec. its accountants are preparing the company's 2 nd quarter master budget. The company has the following balance stieet as of March 31 . TES-417 accountants have made the following estimates: 1. Sales for April, May, June, and July will be \\( \\$ 390,000, \\$ 410,000, \\$ 400,000 \\), and \\( \\$ 420,000 \\), respectively. 2. All sales are on credit. Each month's credit sales are collected \35 in the nionth of sale and \65 in the month following the saile. All of the accounts receivable at March 31 will be collected in April. 3. Eoch month's ending inventory must equal \30 of next month's cost of goods sold. The cost of goods sold is \60 of sales. The company pays for \40 of its metchandise purchases in the month of the purchase and the remaining \60 in the month following the purchase. All of the accounts payable at March 31 are related to previous merchandise purchases and will be paid in April. 4. Monthly selling and administrative expenses are always \\( \\$ 54,000 \\). Each month \\( \\$ 7,000 \\) of this total amount is depreciation expense and the remaining \\( \\$ 47,000 \\) is spent for expenses that are paid in the month they are incurred. 5. The company will not borrow money or pay or deciare dividends during the 2nd quarter. The company will not issue any common stock or repurchase its own stock during the 2nd quarter. How much is the company's expected cash collections in the month of May? Multiple Choice \\[ \\$ 253.500 \\] \\[ \\$ 266,500 \\] \\[ \\$ 143,500 \\] \\( \\$ 397,000 \\)