3. Problem 3.13 (Statement of Cash Flows) ebook You have just been hired as a financial analyst for Barrington Industries. Unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire So, your first job will be to recreate the firm's cash flow statement for the year just ended. The firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. It eamed 5 million in net income during the year but paid $700,000 in dividends to common shareholders. Throughout the year, the firm purchased $5.6 million of property, plant, and equipment - the majority having a useful for more than 20 years and falling under the alternative depreciation system. You have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000. The purchase price for the represents additions property, plant, and equipment before depreciation Finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 milion at a 7% interest rate. What was the firm's end of yew cash balance? Recreate the firm's cash flow statement to arrive at your answer. Write out your answer completely. For example, 5 million should be entered as 5,000,000 Round your answer to the nearest dollar, if necessary