Given below are comparative balance sheets and an income statement for the Excellent Corporation for 2015 Excellent Corporation Balance Sheets 2015 Excellent Corporation Income Statement for the year ended 2015 Dec. 31 34.000 94.000 68,000 Jan. 1 34.000 Sales 78,000 Cost of goods sold 74,000 Gross profit on sales196.000 S524.000 Accounts receivable Inventory Equipment (net) 400 132.000 Operating expenses (118.700) S310,000.00 S318,000.00 Operating income Accounts payable Dividends pavable Long-term note 54.000 20,000 32.000 60,000Interest expense and 12.000Net income 32.000 income taxes 28.750 avable Capital stock, $10 par Retained earnings 140,000 140,000 64,000 74,000 31000S318,000 Why do you think the amount of the Cash Account is the same at the beginning of the year and at the end of the year? 16