Cash Account Balance During the month, Warwick Co. received $342,100 in cash and paid out $288,750 in cash. a. Do the data indicate that Warwick Co. had net income of $53,350 during the month? No v b. If the balance of the cash account is $77,300 at the end of the month, what was the cash balance at the beginning of the month? X Feedback Check My Work a. Consider what account classifications are affected by net income and how owner's equity is increased. Recall that net income is the net change in all assets and liabilities from operating (revenue and expense) transactions. b. Set up a T account for Cash. Receipts of cash are increases and payments are decreases to the cash account