Selected information from the 2018 and 2017 accounting records of Hinley Roofing is provided below: $\begin{array}{lcc}&\text { Decem ber 31, }\&2018&2017\
\text { Net cash provided (used) by operations } & \$ 38,000 & \$ 39,000 \
\text { Net cash provided (used) by investing activities } & (22,000) & 14,000 \
\text { Net cash provided (used) by financing activities } & (15,000) & (26,000) \
\text { Cash balance at end of year } & ? & 15,000
\end{array}$ At the end of 2018, how much is Riddle's cash balance?

Question

Quizplus · Accepted Answer

The net cash provided by operations was $38,000, the net cash used in investing activities was $22,000, and the net cash used in financing activities was $15,000. The cash balance at the end of 2017 was $15,000. So, the cash balance at the end of 2018 is $15,000 + $38,000 - $22,000 - $15,000 = $16,000.

Selected Information from the 2018 and 2017 Accounting Records of Hinley