Tidal Co Has the Following Transactions in 2011,its First Year

Multiple Choice

Tidal Co has the following transactions in 2011,its first year of operations: $\begin{array}{lr} & ` 000 \\\text { Total sales (90\% was collected in 2011) } & \$ 1500 \\\text { Amortisation of patents } & 60 \\\text { Payments for expenses } & 1200 \\\text { Payments for income tax } & 90\\\text { Purchases of fixed assets for cash } & 300 \\\text { GST remitted to the tax department } & 100 \\\text { Depreciation of fixed assets } & 80 \\\text { Proceeds from issue of ordinary shares } & 500 \\\text { Proceeds from short-term borrowing } & 50\end{array}$ What is the cash balance at 31 December 2011?

A) $150 000
B) $170 000
C) $210 000
D) $280 000