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What was new england cash balance at the end of the year

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New England Co. had net cash provided by operating activities of $351,000; net cash used by investing activities of $420,000; and cash provided by financing activities of $250,000.

  • New England's cash balance was $27,000 on January 1. During the year, there was a sale of land that resulted in a gain of $25,000, and proceeds of $40,000 were received from the sale.

Problem 1: What was New England's cash balance at the end of the year?

Option 1: $208,000

Option 2: $248,000

Option 3: $27,000

Option 4: $40,000

Reference no: EM132781124

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