The City of Pittsburgh had the following information available for the purposes of calculating its cash flows for the most recent fiscal year: Cash received from customers: $200,000 Cash paid to employees for services: 50,000 Cash paid to suppliers: 75,000 Cash paid for acquisition of capital assets: 400,000 Depreciation on capital assets: 40,000 Interest received: 100,000 Cash Balance, January 1: 650,000 What is the cash balance on December 31? $385,000 $725,000 $425,000 $465,000