Zachary Corporation's December 31, 2018 balance sheet included the following amounts: Cash $ 20,400 Retained earnings 105,600

Question:

Zachary Corporation's December 31, 2018 included the following amounts:
Cash $ 20,400
Retained earnings 105,600
Zachary's accountant provided the following data for 2019:
Revenues......... $650,100...... Cash inflow from operating activities...... $ 892,250
Expenses .........578,600........ Cash outflow for investing activities........ (990,300)
Dividends......... 30,000........ Cash inflow from financing activities........ 108,400
Required:
Calculate the amount of cash and retained earnings at the end of 2019.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...