Hilliard Company Budgeted the Following Transactions for April 2014 The Beginning Cash Balance Was $50,000

Hilliard Company budgeted the following transactions for April 2014: $$\begin{array} { |l | r | } \hline \text { Sales (75\% collected in month of sale) } & \$ 200,000 \\\hline \text { Cash Operating Expenses } & 105,000 \\\hline \text { Cash Purchases of Investments } & 75,000 \\\hline \text { Cash Payment of Debt } & 15,000 \\\hline \text { Depreciation on Operating Assets } & 12,000 \\\hline\end{array}$$ The beginning cash balance was $50,000. The company desires to have a $25,000 ending cash balance. What is the amount of the cash surplus or shortage?

A) $40,000 surplus
B) $40,000 shortage
C) $20,000 shortage
D) There is no surplus or shortage.