At the end of 2007, Lehnhoff Inc. had $175 million in cash. During 2008, the following events occurred: Cash flow from Lehnhoffs operating activities totaled $325 million. Lehnhoff issued $700 million in common stock. Lehnhoffs notes payable increased by $150 million. Lehnhoff purchased fixed assets totaling $600 million. How much cash did Lehnhoff Inc. have at the end of 2008?

Select one:

a.

$ 750 million

b.

$ 400 million

c.

$ 50 million

d.

$ 600 million

e.

$700 million