Hi, i have a problem with my statement of cash flow, I did all the work but I just can not seem to find the "cash at beginning of year" part. Does anyone know how to calculate this?
Here is the question:
Ohio Enterprises was organized on January 1, 2010, with the investment of $370,000 in cash by its stockholders. The company immediately purchased a manufacturing facility for $300,000, paying $125,000 in cash and signing a five-year promissory note for the balance. Ohio signed another five-year note at the bank for $50,000 during 2010 and received cash in the same amount. During its first year, Ohio collected $305,000 from its customers. It paid $185,000 for inventory, $30,100 in salaries and wages, and another $40,000 in taxes. Ohio paid $4,000 in cash dividends.