Walter Enterprises expects its September sales to be 30% higher than its August sales of $220,000. Purchases were $170,000 in August and are expected to be $190,000 in September. All sales are on credit and are collected as follows: 40% in the month of the sale and 60% in the following month. All merchandise purchases are on credit and are paid as follows: 30% in the month of purchase and 70% in the following month. The beginning cash balance on September 1 is $8,300. The ending cash balance on September 30 would be:

Multiple Choice

$21,300.

$104,300.

$70,400.

$78,700.

$197,700.