Helena Co began operations on January 1 . 2014, with $100,000 from the issuance of stock and borrowed funds of $15,000 . Net income for 2014 was $5,000 and Helena paid a $400 cash dividend on December 15 . No additional activities affected owners' equity in 2014 . At December 31 . 2014, Helena's liabilities had increased to $18,800 . In Helena's December 31 . 2014, balance sheet, total assets
should be reported at
a. $119,600.
b. $120,000.
c. $123,400.
d. $138,400.
C
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