The following information pertains to Hepburn Company: Month Sales Purchases January $60,000$32,000 February $80,000$40,000 March $100,000$56,000 - Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 70% - 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. - Labor costs are 20% of sales. Other operating costs are $30,000 per month (including $8,000 of depreciation). Both of these are paid in the month incurred. - The cash balance on March 1 is $8,000. A minimum cash balance of $6,000 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? $6,000 $6,600