Juarez Equipment, Inc., assembled the following data related to its cash transactions for the year ended June 30, 2016:

Payment of dividends ....................................................... $ 16,000

Proceeds from issuance of stock ............................................. 21,000

Collections from customers .................................................. 213,000

Proceeds from sale of land ..................................................... 61,000

Payments to suppliers .......................................................... 92,000

Purchase of equipment with cash ............................................. 38,000

Payments to employees ....................................................... 67,000

Payment of long-term note payable ........................................... 41,000

Prepare Juarez Equipment's statement of cash flows for the year ended June 30, 2016, using the direct method. Juarez Equipment's cash balance at June 30, 2015, was $23,000?