Dark Adventures has tasked you with preparing a monthly cash budget for the six months from October through March. To facilitate the cash budget, they have supplied you with the following 1. The recent and forecasted (starting in Oct.) sales (in $1,000s) are AUG.SEP.OCT.NOV.DEC.JAN.FEB.MAR.APR. 400500600700800800700600500 2. 25% of sales is collected during the month of sale, 50% is collected in the month following the sale, and 25% is collected in the second month following the sale. 3. Purchases are 50% of sales and are paid for one month prior to sale. 4. Wages and salaries are 24% of sales and are paid in the same month as the sale. 5. Rent of $4,000 is paid each month. Additional cash operating expenses of $8,000 per month will be incurred for October and November, $20,000 for December and January, and $8,000 for February and March. 6. Tax installments of $10,000 each are planned for October and January. A capital expenditure of $100,000 will occur in October, and the firm has a mortgage payment of $5,000 due every month. 7. The cash balance at the end of September is $125,000, and they want to maintain a minimum balance of $60,000 at all times. The firm will borrow the amounts necessary to maintain the min. balance. If the cash balance is abovethe minimum and there is still a loan balance from previous months, excess funds will be applied to the loan balance until it is eliminated. What is the ending cash balance in March?$687,000 $745,000 $871,000 $917