For the year ending 12/31/11, XYZ Company had net cash provided by operating activities of $356000. Net cash used by investing activities was $426000, and cash provided by financing activities was $239000. XYZ's cash balance at January 1, 2011 was $28000. During the year, XYZ sold land costing $42000 for $57000. For 2011, net income was $275000 and depreciation expense was $47000.

What was XYZ's Company's cash balance at December 31, 2011?