The following is income statement information of a restaurant for the first two months of operation. Of the sales revenue, 86% is collected in cash with the remainder collected in the following month. Of cost of sales, 75% is paid in the current month and the remainder is paid in the next month. Wages and operating expenses are paid in the month incurred. The January ending cash balance was $4,448. Using a cash budget format, calculate the ending cash balance for the month of February.

January February

Sales revenue		$38,400		$39,300
Cost of sales		( 14,208)		( 14,541)
Gross margin		$24,192		$24,759
Wages expense	$13,056		$13,362
Other operating expenses	5,760		5,895
Depreciation expense	768		768
Total operating expenses		( 19,584)		( 20,025)
Operating income $4,608	$ 4,734