Answer:
Holman's ending cash balance is $350,000.
Explanation:
The Ending Cash Balance can be obtained by Preparing a Cash Flow Statement as follows :
<u>Quince Holman Corporation </u>
<u>Cash Flow Statement</u>
Net Cash from Operating Activities $250,000
Net Cash from Investing Activities ($110,000)
Net Cash from Financing Activities $140,000
Movement during the Year $280,000
Cash and Cash Equivalents at the Beginning of the year $70,000
Cash and Cash Equivalents at the End of the year $350,000
Conclusion :
Holman's ending cash balance is $350,000.
