Westmoreland Corporation prepared its statement of cash flows for the year. The following information is taken from that statement: Net cash provided by operating activities $ 16,300 Net cash provided by investing activities 5,100 Net cash flow used in financing activities (11,500 ) Cash balance, end of year 13,600 What is the cash balance at the beginning of the year?

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.

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