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31 December 2019 Income Statement of James&May indicates that Net Income is $4100. Depreciation Expense is stated as $560, and the change in net working

31 December 2019 Income Statement of James&May indicates that Net Income is $4100. Depreciation Expense is stated as $560, and the change in net working capital is known to be an increase of $1290. Net PP&E of 2018 was $56200 and this years Net PP&E is $56800. Given that James&May retains an 82% plowback ratio, what is the change in Cash Balance?

a.

Decrease of $2,032

b.

Decrease of $1,472

c.

Increase of $1,472

d.

Increase of $2,032

e.

Increase of $4,052

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