The following information was taken from the accounting records of XYZ Company for the year ended December 31, 2019: $40,000 $34,000 $70,000 ? Cost of Goods Sold Salaries Payable Inventory Cash Accounts Payable Common Stock Accounts Receivable Retained Earnings Salaries Expense Dividends Interest Revenue Supplies Notes Payable Patent $62,000 $70,000 $35,000 $40,000 (at January 1, 2019) $32,000 ? $12,000 $10,000 $94,000 $65,000 $97,000 $91,000 $10,000 Sales Revenue Equipment Income Tax Expense Additional information Total equity at December 31, 2019 is equal to 70% of total liabilities at December 31, 2019. Calculate the balance in the cash account at December 31, 2019