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Tennison Corporation had the following transactions in its first year of operations: ...

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Accounting

Tennison Corporation had the following transactions in its first year of operations:

Sales (90% collected in year) $ 1,600,000
Bad debt write-offs 62,000
Disbursements for production costs and other expenses 1,220,000
Disbursements for income taxes 92,000
Purchases of fixed assets 420,000
Depreciation of fixed assets 82,000
Proceeds from issuance of common stock 520,000
Proceeds from short-term borrowings 102,000
Payments on short-term borrowings 52,000

What is the cash balance at year-end?

a. $278,000.

b. $240,000.

c. $350,000.

d. $220,000.

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