In 2020, Metlock Corporation had net cash provided by operating activities of $569,000, net cash used by investing activities of $988,000, and net cash provided by financing activities of $595,000. At January 1, 2020, the cash balance was $331,000. Required:
Compute December 31, 2020, cash.

See below

Explanation:

The cash balance as at the end of December 31 2020 is the net cash provided by operating activities, less net cash used by investing activities plus net cash provided by financing activities plus the beginning cash balance as at January 1, 2020

Net cash provided by operating activities = $569,000

Net cash used by investing activities = $988,000

Net cash provided by financing activities = $595,000

Beginning cash balance = $331,000

Closing cash balance = $569,000 - $988,000 + $595,000 + $331,000

Closing cash balance = $507,000