Q1) Use information given below to compute the change in company's cash balance for year.
Credit Sales $500,000
Cash Sales $300,000
Operating Expenses on Credit $400,000
Cash Operating Expenses $200,000
Accounts Receivable (Beg. of Year) $20,000
Accounts Receivable (End of Year) $40,000
Accounts Payable (Beg. of Year) $50,000
Accounts Payable (End. of Year) $25,000
Income Taxes Paid $80,000
a. $75,000
b. $200,000
c. $100,000
d. $120,000