Alpaca corporation had revenues of 325000 in its first year

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Alpaca Corporation had revenues of \$325,000 in its first year of operations. The company has not collected on \$20,400 of its sales and still owes \$28,500 on \$98,500 of merchandise it purchased. The company had no inventory on hand at the end of the year. The company paid \$14,200 in salaries. Owners invested \$21,500 in the business and \$21,500 was borrowed on a five-year note. The company paid \$5,000 in interest that was the amount owed for the year, and paid \$9,000 for a two-year insurance policy on the first day of business. Alpaca has an effective income tax rate of 9%.
Compute the cash balance at the end of the first year for Alpaca Corporation.

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