5. Berrnan Corporation had the following transactions in its first year of operations: Sales (90 percent collected in the first year) P750,000 Disbursements for costs and expenses 600,000 Purchases of equipment for cash 200,000 Proceeds from issuance of common stock 250,000 Payments on short-term borrowings. 25,000 Proceeds from short-term borrowings 50,000 Depreciation on equipment 40,000 Disbursements for income taxes 45,000 Bad debt write-offs 30,000 What is the cash balance at December 31 of the first year? A. P 75,000 C. P85,000 B. P105.000 D. P140.000