The controller for Cullumber Co. is trying to determine the amount of cash to report on the December 31,2023 statement of financial position. The following information is provided: 1. A commercial savings account with $580,000 and a commercial chequing account balance of $920,000 are held at First National Bank. There is also a bank overdraft of $35,000 in a chequing account at the Royal Scotia Bank. No other accounts are held at the Royal Scotia Bank. 2. Cullumber has agreed to maintain a cash balance of $97,000 at all times in its chequing account at First National Bank to ensure that credit is available in the future. 3. Cullumber has a $5-million investment in a Commercial Bank of Montreal money-market mutual fund. This fund has chequing account privileges. 4. There are travel advances of $19,000 for executive travel for the first quarter of next year. (Employees vill complete expense reports after they travel.J 5. A separate cash fund in the amount of $1.5 million is restricted for the retirement of long-term debt. 6. There is a petty cash fund of $3,400. 7. A \$2,300 IOU from Marianne Koch, a company officer, will be withheld from her salary in January 2024. 8. There are 20 cash floats for retail operation cash registers: 8 at $500 and 12 at $560. 9. The company has two certificates of deposit, each for $530,000. These certificates of deposit each had a maturity of 120 days when they were acquired. One was purchased on October 15 and the other on December 27. 10. Cullumber has received a cheque dated January 12,2024 , in the amount of $27,000 from a customer owing funds at December 31 . It has also received a cheque dated J anuary 8,2024 , in the amount of $12,000 from a customer as an advance on an order that was placed on December 29 and will be delivered February 1, 2024. 11. Cullumber holds $1.8 million of commercial paper of Pharoah Co., which is due in 60 days. 12. Currency and coin on hand amounted to $7,000. 13. Cullumber acquired 1,300 shares of Sortel for $3.80 per share in late November and is holding them for trading. The shares are still on hand at year end and have a fair value of $4.15 per share on December 31, 2023. (a) Calculate the amount of cash to be reported on Cullumber's statement of financial position at December 31,2023