Tokyo Inc. is a wholesaler of Asian goods. By the end of N, the company's...
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Tokyo Inc. is a wholesaler of Asian goods. By the end of N, the company's cash balance has dropped to 4 000 million, despite net income of 200 in N. Its transactions affecting income or cash in N were (in millions of ): - Sales were 1,510 all on credit. Cash collections from customers were 1,413 - Long-term debt was retired for 20 cash - Cash payments on trade accounts payable were 1,500 - Income tax expense was 100, cash payments for income taxes were 70 Depreciation was 200 - Cash dividends of 50 were paid - Other operating expenses (including cost of goods sold), all paid in cash were 1,010 Question 1 (1 point) What is the amount of the opening Cash balance
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