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At the end of 2016, Seinfeld Inc. had $75 million in cash. During 2017, the...

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At the end of 2016, Seinfeld Inc. had $75 million in cash. During 2017, the following events occurred: Net Income of $220 million. Accruals increased by $7 million. Depreciation and amortization totaled $12 million. A/R decreased by $13 million Inventories increased by $7 million. Seinfeld issued $550 million in common stock. Seinfeld's notes payable decreased by $100 million. Seinfeld purchased fixed assets totaling $600 million. Seinfeld Inc. had $170 million in cash at the end of 2017. True False

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