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What amount should harbor city report on balance sheet

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Reference no: EM132777076

Harbor City Corporation's end-of-year balance sheet consisted of the following amounts:

Cash $ 15,000 Accounts receivable $50,000

Property, plant, and equipment 70,000 Long-term debt 40,000

Capital stock 100,000 Accounts payable 20,000

Retained earnings ? Inventory 35,000

Problem 1: What amount should Harbor City report on its balance sheet for total assets?

a. $170,000

b. $190,000

c. $155,000

d. $110,000

Reference no: EM132777076

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