CHARM Company had the following transactions in 2022, their first year of operations Sales (90% collected in 2022) P1,500,000 Bad debts write-offs 60,000 Disbursements for cost and expenses 1,200,000 Disbursement for income taxes 90,000 Purchase of fixed assets 400,000 Depreciation of fixed assets 80,000 Proceeds from issuance of common stock 500,000 Proceeds from short-term borrowings 100,000 Payments on short-term borrowings 50,000What is the cash balance at December 31, 2022