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The following budgeted May cash information is available for Salado Corp.: Net after-tax income $134,400 Depreciation expense 22,480 Accrued income tax expense 32,800 Increase in
The following budgeted May cash information is available for Salado Corp.:
Net after-tax income | $134,400 |
Depreciation expense | 22,480 |
Accrued income tax expense | 32,800 |
Increase in Accounts Receivable for month | 3,200 |
Decrease in Accounts Payable for month | 2,800 |
Estimated bad debts expense | 1,640 |
Dividends declared in May | 14,000 |
Dividends paid in May | 18,800 |
If Salados May 1 cash balance is $9,200, what is the companys budgeted May 31 cash balance?
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