Answer the following question using the information below.Th…
Answer the following question using the information below.The following information pertains to Hepburn Company:MonthSalesPurchasesJanuary$60,000$32,000February$80,000$40,000March$100,000$56,000Cash is collected from customers in the following manner: – Month of sale 30% – Month following the sale 70%40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labour costs are 20% of sales. Other operating costs are $30,000 per month (including $8,000 of depreciation). Both of these are paid in the month incurred. The cash balance on March 1 is $8,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000.What is the ending cash balance for March after borrowing, if required?