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Atticus Inc. began its business in 2019. The company had the following transactions during 2019. o Issued 200 shares of common stock with a par
Atticus Inc. began its business in 2019. The company had the following transactions during 2019. o Issued 200 shares of common stock with a par value of $1 per share for an issuance price of $10 per share. Repurchased 10 shares of the stock for $15 per share. o Borrowed $30,000 from the bank. Recorded interest expense of $1,500 on the loan but paid only $750 during the year. The remaining interest will be paid in 2020. o Purchased inventory on account costing $3,800. o Sold inventory that cost $2,000 for a sales price of $4,600 on account. o Purchased equipment costing $10,000 with a note payable. Recorded $800 depreciation. Assuming the company uses the accrual method of accounting, what was the amount of total assets at 12/31/2019
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