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The following budgeted May cash information is available for Salado Corp.: Net after-tax income $134,400 Depreciation expense 22,480 Accrued income tax expense 32,800 Increase in

The following budgeted May cash information is available for Salado Corp.:

Net after-tax income $134,400
Depreciation expense 22,480
Accrued income tax expense 32,800
Increase in Accounts Receivable for month 3,200
Decrease in Accounts Payable for month 2,800
Estimated bad debts expense 1,640
Dividends declared in May 14,000
Dividends paid in May 18,800

If Salados May 1 cash balance is $9,200, what is the companys budgeted May 31 cash balance?

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