A" Company reported the following information:
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Net income for the year was $60 million.
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Equipment purchases were $5 million.
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Customer accounts receivable increased by $6 million.
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Dividends paid to common shareholders were $5 million.
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Depreciation expense was $16 million.
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Income tax payable increased by $2 million.
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Long-term debt increased by $14 million.
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Accounts payable increased by $3 million.
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Inventories increased by $4 million.
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Ending cash balance was $80 million.
Required: Based on the above information, calculate the opening cash balance - Required with calculation