Homework Answers
Cash
| Capital stock | 360,000 | Note payable | 60,000 |
| Sale of equipment | 18,000 | Purchase of equipment | 35,000 |
| Ending balance | $283,000 |
Equipment
| Equipment purchase | 180,000 | Sale of equipment | 18,000 |
| Ending balance | $162,000 |
Total assets = Cash + Equipment
= 283,000 + 162,000
= $445,000
Second option is the correct option
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