A construction company paid $80,000 cash for equipment used in the business. time of purchase, the equipment had a list price of s90,000. When the balance sheet was prepared, the fair value of the equipment was $83,000. At what amount should the equipment be reported on the balance sheet of the company? O A. $80,000 O B. $90,000 O C. $85,000 O D. $83,000 Click to select your answer. Screen Shal 2016 12 6.24 AM