Green Co. had net cash provided by operating activities of $209,000; net cash used by investing activities of $354,000; and cash provided by financing activities of $190,000. Greens cash balance was $36,500 on January 1. During the year, there was a sale of equipment that resulted in a gain of $7,200 and proceeds of $55,000 were received from the sale. What was Greens cash balance at the end of the year?

a. $45,000 b. $55,000 c. $81,500 d. $88,700