The Gingham Company's budgeted income statement reflects the following amounts:

Sales Purchases Expenses
January $ 126,000 $ 84,000 $ 24,600
February 116,000 72,000 24,800
March 131,000 87,250 27,600
April 136,000 90,500 29,200

Sales are collected 50% in the month of sale, 30% in the month following sale, and 19% in the second month following sale. 1 percent of sales is uncollectible and expensed at the end of the year.

Gingham pays for all purchases in the month following purchase and takes advantage of a 3% discount.

The following balances are as of January 1:

Cash $ 94,000
Accounts receivable * 64,000
Accounts payable 78,000
*Of this balance, $38,400 will be collected in January and the remaining amount will be collected in February.

The monthly expense figures include $5,600 of depreciation.

The expenses are paid in the month incurred.

Gingham's expected cash balance at the end of January is:

A. $91,800.
B. $95,140.
C. $97,400.
D. $100,740.
E. $119,740.