The following are held by Smite Co.:

Cash in checking account

$20,000

Cash in bond sinking fund account

30,000

Post-dated check from customer dated one month from balance sheet date

250

Petty cash

200

Commercial paper (matures in two months)

7,000

Certificate of deposit (matures in six months)

5,000

What amount should be reported as cash and cash equivalents on Smite's balance sheet?

$27,200

$57,200

$32,200

$27,450