At the beginning of the year 2022 when it first started, DEFT Co. Ltd. has a cash balance of $2m on the asset side and shareholder equity of $2m on the liabilities and equity side. DEFT later bought a machine with a useful life of 10 years on 1 January 2022 for $800,000 paid with cash. Depreciation expense is calculated on a straight-line basis. During 2022, DEFTs sole supplier of raw materials, Prompt Supply Co. Ltd supplies $5m worth of raw materials to DEFT. DEFT pays $3m to the supplier. DEFT revenue for the year is $10m, and the expenses related to raw materials, wages and utilities amount to $5m. The amount of raw materials that was used to generate the revenue for 2022 is $4m. DEFT collected $8m from customers in cash in 2022. Wages and utilities are fully paid for 2022. DEFT paid dividend of $1.4m in 2022. The tax rate is 20%. As of 31 Dec 2022, what is the firms:

Cash balance?

A. 1,986,000.00 B. 2,346,720.00 C. 2,816,000.00 D. 2,942,310.00 E. 3,120,000.00

Actual net capital spending?

A. 800,000 B. 480,000 C. 120,000 D. 600,000 E. 500,000

Net income for 2022?

A. 3,756,200.00 B. 3,936,000.00 C. 4,120,000.00 D. 4,284,600.00 E. 4,781,000.00

Cash flow from assets which is the total cash actually paid to shareholders and debtholders?

A. 586,000 B. 886,000 C. 986,000 D. 1,200,000 E. 1,400,000

Total shareholder equity?

A. 1,980,112 B. 3,000,030 C. 3,128,756 D. 4,536,000 E. 5,120,000 Total Assets? A. 2,816,000.00 B. 4,000,000.00 C. 6,536,000.00 D. 6,668,000.00 E. 7,123,881.00