QUESTION 4

3. Roger Wills & Company estimates the following for 2016 (20 points):

Sales (all on account)	$800,000
Collections of accounts receivable	700,000
Proceeds from bond issuance	500,000
Proceeds from sale of common stock	300,000
Merchandise bought on credit	650,000
Payments of accounts payable	500,000
Cash payments of expenses	70,000
Cash purchase of equipment	140,000
Depreciation of equipment	15,000
Payment on notes payable	30,000

The ending cash balance for 2009 was $200,000.

Prepare a cash budget to determine the ending cash balance for 2010.