Question
At the beginning of April, Warren Corporation's assets totaled $242,000 and liabilities totaled $62,000. During April the following summarized transactions occurred: Additional shares of stock
At the beginning of April, Warren Corporation's assets totaled $242,000 and liabilities totaled $62,000. During April the following summarized transactions occurred: Additional shares of stock were sold for $21,000 cash. A building costing $97,000 was purchased using $11,000 cash and by signing an $86,000 long-term note payable. Short-term investments costing $9,200 were purchased using cash. $10,200 was paid to an employee as a loan; the employee signed a six-month note in exchange for the loan. How much are Warren's total assets at the end of April?
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