Deets N. Assets has taken inventory and has collected the following information on the value of everything he owns and owes as of December 31, 2016: Land and buildings $400,000 Breeding livestock owned $35,000 Crops in storage $ 30,000 Feeder livestock owned $14,000 Mortgage on land $225,000 Cash rent owed to his landlord $ 6,000 Machinery owned $ 65,000 Feed in storage $ 2,000 Loans owed on machinery $ 12,000 Production loan outstanding $ 9,000* Taxes owed $1,000 Supplies in storage $ 7,000 Cash on hand $3,000 Fuel in storage $ 500 *must be paid this year 4. The total value of Reets' assets is: $554,500 b. $556,500 c. $565,500 d. $577,500 e. $255,000