A company was formed with $60,000 cash contributed by its owners in exchange for common stock. The company borrowed $30,000 from a bank. The company purchased $10,000 of inventory and paid cash for it. The company also purchased $70,000 of equipment by paying $10,000 in cash and issuing a note for the remainder.

Use the information above to answer the following question. What is the amount of the total assets to be reported on the balance sheet?

A) $150,000.

B) $160,000.

C) $90,000.

D) $80,000.