Bauer LLC started a new business on July 1, 2021. That same day, Bauer LLC also received $300,000 of cash from issuing common stock and borrowed $190,000 from a friend. On July 1, 2021 Bauer LLC also purchased equipment for $280,800. The equipment has a useful life of 108 months. On July 1, 2021, Bauer also paid $45,600 of cash to rent office space for a 12 month period. During 2021, the Company provided services valued at $29,400 and had collected $5,880 of that amount at year-end. The company will 4 collect the remaining portion in the following year.The company's payroll for 2021 was $19,600, which was paid in full during 2021. Use this information to find the company's balance of total assets as of 12/31/2021