20. The following information is taken from Gandalf, Pty, Ltd. book:

Accounts Payable

$600

Accounts Receivable

$5,200

Cash

$27,000

Loan Payable in 6 months

$4,400

Revenue received in advance

$12,000

Bank Loan - Mortgage

$30,000

Accumulated depreciation

$7,800

Inventory

$10,200

Buildings

$17,600

Supplies

$1,600

What is the most likely amount for the company's net assets?

Select one:

a.

$41,600.

b.

$6,800.

c.

$14,600.

d.

$26,600.

e.

$18,800.