ABC Inc, was incorporated two year ago by issuing 1,000 shares of common stock at $200 and borrowing $30,000 from a bank on a long term note. Last year, ABC reported net income of $10,000 and paid a cash divided of $800. During the year, the company also borrowed an additional $7,600 from the bank. What was the total assets on ABCs balance sheet at the end of the year last year?

A. $246,8000

B. $240,000

C. $239,200

D. $276,800