Golden Enterprises started the year with the following: Assets $109,000; Liabilities $38,000; Common Stock $68,000; Retained Earnings $3,000. During the year, the company earned

revenue of $5,800, all of which was received in cash, and incurred expenses of $3,400, all of which were unpaid as of the end of the year. In addition, the company paid dividends of

$1,800 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

$117200

$113,000.

$118,200