Golden Enterprises started the year with the following: Assets $104,000; Liabilities $34,000; Common Stock $64,000; Retained Earnings $6,000. During the year, the company earned revenue of $5,400, all of which was received in cash, and incurred expenses of $3,200, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $1,400 to owners. Assume no other activities occurred during the year.

The amount of Golden's assets at the end of the year is:

Multiple Choice

• $109,400.

• $111,600.

• $112,600.

• $108,000.