Calculate the amount XYZ Company supplies balance

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In an attempt to increase profits, the controller of XYZ Company has set a goal of reducing the supplies expense recorded in 2022 by $457 from the supplies expense recorded in 2021.

Shown below are some figures from 2021 and 2022:

Supplies, January 1, 2021 .......... $3,250
Supplies, December 31, 2021 ........ $2,700
Supplies purchased in 2021 ......... $ 578
Supplies purchased in 2022 ......... $ 814

Question 1: Calculate the amount XYZ Company's supplies balance at December 31, 2022 must be equal to in order for them to achieve their goal.

Reference no: EM132544465

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