Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget.

1) Beginning cash balance on June 1, $94,500.

2) Cash receipts from sales, $415,500.

3) Budgeted cash payments for purchases, $270,500.

4) Budgeted cash payments for salaries, $95,500.

5) Cash repayment of bank loan, $32,500.

6) Budgeted depreciation expense, $34,500.

Select one:

a. $77,000

b. $111,500

c. $17,000

d. $146,000