Homework Answers
Answer : 388
Assets : Inventory + Acconts Receivable + Fixed Assets
: 500 + 400 + 2000
Assets = $2900
Liabilities : long term debt + Accounts payable + Beginning Retained earnings + Profit before Corporate tax - Corporate tax
Liabilities = 2500 + 350 + 300 + 230 - 92
Liabilities = $3288
Cash = Liabilities - Assets
= $3288 - $2900
Cash = $388
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