A company has the following account balances: $ Cash at bank 27,400 Accounts payable 20,400 Inventory 22,700 Accumulated depreciation 17,200 Accounts receivable 16,600 Mortgage payable 115,000 Equipment (cost) 124,000 Dividends 8,600 Net Assets would be:

Select one:

a.

$46,700

b.

$38,100

c.

$29,500

d.

$53,300

e.

None of the above