Reference no: EM133182479

Question - Den Corporation expects the following transactions in 2021. Their first year of operation;

Sales (90% collectible in 2021) 1,500,000

Bad Debts write-offs 60,000

Disbursements of Costs and Expenses 1,200,000

Disbursements for Income Taxes 90,000

Purchase of fixed Assets 400,000

Proceeds from issuance of ordinary shares 580,000

Proceeds from short-term borrowings 100,000

Payments on short-term borrowings 50,000

Depreciation on fixed assets 80,000

Required - Compute the Cash Balance at December 31, 2021.