Tortilla Corp. has provided a part of its budget for the second quarter:

	Apr	May	Jun
Cash collections	$ $43,000	$ $40,000	$ $50,000
Cash payments:
Purchases of direct materials	7,000	5,000	4,500
Operating expenses	5,600	9,000
Capital expenditures	10,000	4,600	4,600

The cash balance on April 1 is

$13,000.

Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of May.