Cullumber Industries is preparing its cash budget for the third quarter of the current year. Sales for the third quarter are budgeted at $906,000 ($302,000 per month). Sales are 70% cash, with the remaining 30% on credit, which is collected in the month following the month of sale. On June 30, the cash balance is $47,000, and the Accounts Receivable (all related to June sales) balance is $51,200. Operating expenses for the quarter are budgeted at $464,200, which includes $17,700 of depreciation. Cash expenses are paid in the month incurred. Cash purchases for merchandise inventory are budgeted at $396,000 for the quarter. What is the projected cash balance at the end of the third quarter? A. $71100 B. $161700 C. $144000 D. $2200