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, 2021 (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, 2022 (amounts in thousands) | |
|---|---|
| Revenue | 3,300 |
| Expenses | 4,900 |
| Net Income | -1,600 |
Between January 1 and March 31, 2022:
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, 2022?
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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