The following budgeted May 2010 cash information is available for Salado Corp.: Net after-tax income ............. $336,000

Question:

The following budgeted May 2010 cash information is available for Salado Corp.:
Net after-tax income ............. $336,000
Depreciation expense ............ 56,200
Accrued income tax expense ............... 82,000
Increase in for month .... 8,000
Decrease in for month ..... 7,000
Estimated bad debts expense ......... 4,100
Dividends declared in May ........... 35,000
Dividends paid in May ............ 47,000

If Salado’s May 1, 2010, cash balance is $23,000, what is the company’s budgeted May 31, 2010, cash balance?

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