Total Assets Tiz Corporation reported total liabilities of $108,000 and owners’ equity of $65,000 on January 1.

During the month of January, Tiz Corporation

(a) acquired land with a value of $65,000 in exchange for an ownership interest in Tiz,

(b) used $35,000 of cash to purchase additional land,

(c) purchased $40,000 of merchandise on credit, and

(d) paid creditors a total of $25,000. What amount of total assets did Tiz Corporation report on January 1 and January 31?