Tennison Corporation had the following transactions in its first year of operations:

Sales (90% collected in year)$1,720,000Bad debt write-offs73,000Disbursements for production costs

and other expenses1,330,000Disbursements for income taxes103,000Purchases of fixed assets530,000Depreciation of fixed assets93,000Proceeds from issuance of common stock630,000Proceeds from short-term borrowings113,000Payments on short-term borrowings63,000

What is the cash balance at year-end?

Multiple Choice

• $218,000.
• $238,000.
• $348,000.
• $265,000.