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

Sales (90% collected in year)	$	1,730,000
Bad debt write-offs		71,000
Disbursements for production costs and other expenses		1,310,000
Disbursements for income taxes		101,000
Purchases of fixed assets		510,000
Depreciation of fixed assets		91,000
Proceeds from issuance of common stock		610,000
Proceeds from short-term borrowings		111,000
Payments on short-term borrowings		61,000

What is the cash balance at year-end?

$267,000.

$247,000.

$377,000.

$296,000.