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You have just been hired as a financial analyst for Barrington Industries. Unfortunately, company headquarters $($where all of the firm's records are kept$)$ has been destroyed by fire. So your first job will be to recreate the firm's cash flow statement for the year just ended. The firm had $$100,000$ in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. It earned $$5$ million in net income during the year but paid $$800,000$ in dividends to common shareholders. Throughout the year, the firm purchased $$5\mathrm{.}5$ million of property, plant, and equipment $-$ the majority having a useful life of more than $20$ years and falling under the alternative depreciation system. You have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $$440,000.$ The purchase price for the property, plant, and equipment represents additions before depreciation. Finally, you have determined that the only financing done by the firm was to issue long$-$term debt of $$1$ million at a $7\%$ interest rate. What was the firm's end$-$of$-$year cash balance? Recreate the firm's cash flow statement to arrive at your answer. Write out your answer completely. For example, $5$ million should be entered as $5,000,000.$ Round your answer to the nearest dollar, if necessary.

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