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Use the starting balance sheet, income statement, and the list of changes to answer the...

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Accounting

Use the starting balance sheet, income statement, and the list of changes to answer the question.
Lightspeed Industries
Balance Sheet
As of December 31,2022
(amounts in thousands)
Cash 20,000 Liabilities 37,000
Other Assets 35,000 Equity 18,000
Total Assets 55,000 Total Liabilities & Equity 55,000
Lightspeed Industries
Income Statement
January 1 to March 31,2023
(amounts in thousands)
Revenue 3,300
Expenses 4,900
Net Income -1,600
Between January 1 and March 31,2023:
1. Other Assets do not change
2. Liabilities increase by $400,000
3. Paid-In Capital does not change
4. Dividends paid of $300,000
What is the value for Cash on March 31,2023?
Note: Account change amounts are provided in dollars but the financial statement units are thousands of dollars.
Please specify your answer in the same units as the financial statements (i.e., enter the number from your updated balance sheet).

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