​Clyde, Inc. has a cash balance of​ $20,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as​ follows: Apr May Jun Cash collections ​$26,000 ​$22,000 ​$22,000 Cash​ payments: Purchases of direct materials ​4,000 ​5,800 ​5,000 Operating expenses ​3,500 ​6,000 ​5,300 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above​ data, calculate the projected cash balance at the end of April.