The controller for Sandhill 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 $620,000 and a commercial chequing account balance of $960,000 are held at First National Bank. There is also a bank overdraft of $41,000 in a chequing account at the Royal Scotia Bank. No other accounts are held at the Royal Scotia Bank. 2. Sandhill has agreed to maintain a cash balance of $96.000 at all times in its chequing account at First National Bank to ensure that credit is available in the future. 3. Sandhill 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 $16,000 for executive travel for the first quarter of next year, (Employees will complete expense reports after they travel) 5. A separate cash fund in the amount of $2.0 million is restricted for the retirement of long - term debt. 6. There is a petty cash fund of $3,200. 7. A \$1,50010U from Marianne Koch, a company officer, will be withheld from her salary in January 2024 . B. There are 20 cash floats for retail operationcash registers: 8 at $480 and 12 at $580. 9. The company has two certificates of deposit, each for $540,000. 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. Sandhill has received a cheque dated January 12,2024 , in the amount of $30,000 from a customer owing funds at Decembe 31. It has also received a cheque dated January 8,2024, in the amount of $11,000 from a customer as an advance on an order that was placed on December 29 and will be delivered February 1,2024. 11. Sandhill holds $2.2 million of commercial paper of Blue Co., which is due in 60 days. 12. Currency and coin on hand amounted to $7,200. 13. Sandhill acquired 1,200 shares of Sortel for $4,00 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 $4,10 per share on December 31, 2023. (a) Calculate the amount of casb to be reported on Sandhill's statement of financial position at December 31, 2023