Cloud Solutions had the following accounts and balances as of December 31:AccountDebit CreditCash$20,000    Accounts Receivable 2,000    Salaries Expense 500    Accounts Payable   $4,000 Lodging Revenue    7,000 Utilities Expense 500    Prepaid Insurance 1,400    Supplies 1,500    Common Stock    14,900 Totals$25,900 $25,900 Using the information in the table, calculate the total assets reported on the balance sheet for the period.

A. $25,900.
B. $23,400.
C. $22,500.
D. $25,400.
E. $24,900.


Answer: E

Business

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