1. Forest Company had the following transactions during the month of December. What is the December 31 cash balance? You need to start with the cash in the beginning of the month, add inflows and subtract outflows of cash and calculate the final amount. (Example: cash sales is inflow, whereas wages paid is outflow). Item Amount ($) Cash sales 3,250 Payments for inventory 1.760 Investments by owners 3,000 Supplies used 175 Cash withdrawals 260 Inventory received 2,500 Wages paid 2,390 Cash balance Dec.1 4,250 2. For each of the following items, identify whether the item is considered current or noncurrent, and explain why. Item Current or noncurrent? Inventory Buildings Accounts receivable Common stock Trademarks Accounts payable Wages payable