Question

Mike owns a skate shop. He is preparing the cash flow statement for his first year of

Answer 1

Based on the information given Ending Cash Balance  is $96,200.

Ending Cash Balance

Using this formula

Ending Cash Balance = Beginning Cash + Cash Inflow - Cash Outflow

Where:

Beginning Cash=$4,800

Cash Inflow =$103,000

Cash Outflow=$3,500+ $2,600+ $5,500 =$11,600

Let plug in the formula

Ending Cash Balance =$4,800+$103,000-($3,500+ $2,600+ $5,500 )

Ending Cash Balance =$4,800+$103,000-$11,600

Ending Cash Balance =$96,200

Inconclusion the Ending Cash Balance  is $96,200.

Learn more about Ending Cash Balance here:brainly.com/question/14467401