Wolverine, Inc. began operations on January 1 of the current year with a $13,000 cash balance. 45% of sales are collected in the month of sale; 55% are collected in the month following sale. Similarly, 15% of purchases are paid in the month of purchase, and 85% are paid in the month following purchase. The following data apply to January and February:

	January	February
Sales	$ 45,000	$ 65,000
Purchases	35,000	50,000
Operating expenses	8,000	10,000

If operating expenses are paid in the month incurred and include monthly depreciation charges of $3,500, determine the change in Wolverine's cash balance during February.