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You have just been hired as a financial analyst for Barrington

Industries. Unfortunately, company headquarters $($where all of the

firm's records are kept$)$ has been destroyed by fire. So your first

job will be to recreate the firm's cash flow statement for the year

just ended. The firm had $$100,000$ in the bank at the end of the

prior year, and its working capital accounts except cash remained

constant during the year. It earned $$5$ million in net income during

the year but paid $$750,000$ in dividends to common shareholders.

Throughout the year, the firm purchased $$5\mathrm{.}6$ million of property,

plant, and equipment $$ the majority having a useful life of more

than $20$ years and falling under the alternative depreciation

system. You have just spoken to the firm's accountants and learned

that annual depreciation expense for the year is $$460,000.$ The

purchase price for the property, plant, and equipment represents

additions before depreciation. Finally, you have determined that

the only financing done by the firm was to issue long$-$term debt of

$$1$ million at a $7\%$ interest rate. What was the firm's end$-$of$-$year

cash balance? Recreate the firm's cash flow statement to arrive at

your answer. Write out your answer completely. For example, $5$

million should be entered as $5,000,000.$ Round your answer to the

nearest dollar, if necessary.$$$

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