Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement of cash flows for the year ending December 31, 2022 and answer the question below and other questions from the same statement of cash flows.

December 31 2021 2022 Cash........................................................ $39,000 $54,000 Accounts receivable (net)............... 84,000 144,200 Inventory............................................ ... 168,000 206,600 Land......................................................... 61,800 32,000 Equipment............................................. 504,000 789,600 TOTAL.......................................... $856,800 $1,226,400 Accumulated depreciation............. $84,000 $110,600 Accounts payable............................ .. 50,400 91,000 Notes payable - short-term.......... 67,200 29,400 Notes payable - long-term........... 219,600 302,400 Common stock.................................. 420,000 487,200 Retained earnings.......................... .. 15,600 205,800 TOTAL.......................................... $856,800 $1,226,400 Additional data for 2022:

1. Net income was $230,200. 2. Depreciation was $26,600. 3. Land was sold at its original cost. 4. Dividends of $40,000 were paid. 5. Equipment was purchased for $202,800 cash. 6. A long-term note for $82,800 was used to pay for an equipment purchase. 7. Common stock was issued for cash.

How much was cash balance at the end of the year?

a. $54,000

b. $102,000

c. $38,000

d. $60,000