A company was formed with $60,700 cash contributed by its owners in exchange for common stock. The company borrowed $30,700 from a bank. The company purchased $10,700 of inventory and paid cash for it. The company also purchased $70,700 of equipment by paying $10,000 in cash and issuing a note for the remainder What is the amount of the total assets to be reported on the balance sheet? Multiple Choice $152,100 $91,400 $80700 5162.100 8 of 10