2.16

Cash Account Balance During the month, Bavarian Auto Co. received $458,750 in cash and paid out $387,200 in cash. a. Does this information indicate that Bavarian Auto Co. had net income of $71,550 during the month No Net Income is the net change in all assets and liabilities from operating (revenue and expense) transactions. b. If the balance of the cash account is $103,700 at the end of the month, what was the cash balance at the beginning of the month