In 2016, Foolad Company had cash flow from investing activities of (- $210,000), and cash flow from financing activities of (+$260,000). During 2016, Foolad had the following cash flows from operating activities: EBT = $130,000 ; Tax rate = 35% ; Depreciation and Amortization = $10,000 ; Accounts payable increased by $45,000 ; Inventories increased by $12,000. If the cash balance of Foolad at the end of year 2015 was $10,000. Calculate the cash balance at the end of year 2016?

Answer rating: 100% (QA)

The cash flow statement equation is Cash flow from operating activities Cash flow from investing act... View the full answer