The following information pertains to Monroe Company: - Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 70% - 45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. - Labor costs are 25% of sales. Other operating costs are $40,000 per month (including $8,000 of depreciation). Both of these are paid in the month incurred. - The cash balance on March 1 is $28,900. A minimum cash balance of $8,000 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? A. $7,000 B. $8,000 C. $28,900 D. $14,400 The following information pertains to Monroe Company: - Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 70% - 45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. - Labor costs are 25% of sales. Other operating costs are $40,000 per month (including $8,000 of depreciation). Both of these are paid in the month incurred. - The cash balance on March 1 is $28,900. A minimum cash balance of $8,000 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? A. $7,000 B. $8,000 C. $28,900 D. $14,400