Question

Mike owns a skate shop. He is preparing the cash flow statement for his first year of operation. He had a beginning cash balance of $4,800, $103,000 in total cash sales, $3,500 for utilities, $2,600 in loan payments, and $5,500 for marketing cost. What is Mike's ending cash balance? Ending Cash Balance = Beginning Cash Cash Inflow – Cash Outflow Hint: Do not forget to include the comma to separate the digits and to type the $ symbol! Example: $32,100.

Answer 1

Mike's ending cash balance of the cash flow statement for his first year of operation is $95,400.

What is cash flow?

Cash flow is defined as the report which shows the total inflow and outflow of the business for a particular financial period.

Given

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

He had a beginning cash balance of $4,800, $103,000 in total cash sales, $3,500 for utilities, $2,600 in loan payments, and $5,500 for marketing cost.

Total cash inflow = $4,800 + $103,000 = $107,800

Total cash outflow = $3,500 + $2,600 + $5,500 = $11,600

Then the cash flow will be

$\rm Cash\ flow = \ 107,000 - 11,600\\\\Cash\ flow = \ 95,400$

More about the cash flow link is given below.

https://brainly.com/question/26389863