During the month, Bavarian Auto Co. received $1,245,000 in cash and paid out $974,200 in cash. a.

Question:

During the month, Bavarian Auto Co. received $1,245,000 in cash and paid out $974,200 in cash.
a. Does this information indicate that Bavarian Auto Co. had net income of $270,800 during the month? Explain.
b. If the balance of the cash account is $421,000 at the end of the month, what was the cash balance at the beginning of the month?

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