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Question
Given the information below, calculate the company's cash balance at the end of the year.| Cash Balance at Beginning of Year | $80,000 |
| Activity During the Year | |
| Increase in Accounts Payable | $60,000 |
| Decrease in Accounts Receivable | $40,000 |
| Depreciation Expense | $500,000 |
| Net Income | $2,000,000 |
| Purchase of Fixed Assets | $800,000 |
| Sales of Common Stock | $100,000 |
| Decrease in Notes Payable | $85,000 |
| Dividends Paid | $15,000 |
Answer
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