Answer:
The cash balance at the beginning of the year is $3,700.
Explanation:
To arrive at the cash at the beginning of the year, we can draft the following extract of the statement of cash flows:
Westmoreland Corporation
Statement of cash flows
Net cash provided by operating activities $16,300 ---(a)
Net cash provided by investing activities 5,100 ---(b)
Net cash flow used in financing activities (11,500) ---(c)
Net increase in cash (a+b+c) $9,900
Cash balance, beginning of the year X
Cash balance, end of year $13,600
Net increase in cash ($9,900) + X = $13,600
Cash balance, beginning of the year (X) = $13,600 - $9,900 = $3,700.
