ABC Company was incorporated 2 years ago by issuing 1,000 shares of common stock at @00 and borrowing $30,000 from a bank on a long term note. Last year, ABC reported net income of 7,000 and paid a cash dividend of $800. During the year, the company also borrowed an additional $3,000 from the bank. What was total assets on ABC's balance sheet at the end of the year last year?