The following budgeted May cash information is available for Salado Corp.:Net after-tax income$470,400Depreciation expense78,680Accrued income...
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Accounting
The following budgeted May cash information is available for Salado Corp.:
| Net after-tax income | $470,400 |
| Depreciation expense | 78,680 |
| Accrued income tax expense | 114,800 |
| Increase in Accounts Receivable for month | 11,200 |
| Decrease in Accounts Payable for month | 9,800 |
| Estimated bad debts expense | 5,740 |
| Dividends declared in May | 49,000 |
| Dividends paid in May | 65,800 |
If Salado’s May 1 cash balance is $32,200, what is the company’s budgeted May 31 cash balance?
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