During the month, Harpoon Co. received $479,250 in cash and paid out $312,380 in cash. a. Do

Question:

During the month, Harpoon Co. received $479,250 in cash and paid out $312,380 in cash.
a. Do the data indicate that Harpoon Co. earned $166,870 during the month? Explain.
b. If the balance of the cash account is $241,925 at the end of the month, what was the cash balance at the beginning of the month?