The following transactions occurred during May, the first month of operations for XYZ Company: 1. Sold common stock to owners for $100,000 cash 2. Purchased $50,000 of equipment by making a $30,000 cash down payment and signing a note payable for the balance 3. Made a $13,000 cash payment on the note payable from the purchase of equipment 4. Sold a piece of equipment for cash of $15,000 Calculate the balance in the cash account at the end of May. Do not use decimals in your