At December 31, Year 1, the accounting records of Braun Corporation contain the following items:

Accounts Payable	$ 13,500	Accounts Receivable	$ 35,000
Land	$ 235,000	Cash	?
Capital Stock	?	Equipment	$ 115,000
Building	$ 175,000	Notes Payable	$ 185,000
Retained Earnings	$ 155,000

If Capital Stock is $255,000, what is the December 31, Year 1 cash balance?

Multiple Choice

• $83,500.

• $608,500.

• $91,500.