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Kilgore Company experienced the following events during its first accounting period. ( 1 ) Issued common stock for $ 5 , 0 0 0 cash.

Kilgore Company experienced the following events during its first accounting period.
(1) Issued common stock for $5,000 cash.
(2) Earned $3,000 of cash revenue.
(3) Paid a $4,000 cash to purchase land.
(4) Paid cash dividends amounting to $400.
(5) Paid $2,200 of cash expenses.
The market value of the land at the end of the accounting period was $4,300. Based on this information the amount of total assets appearing on the year-end balance sheet is
Multiple Choice
$5,400.
$1,400.
$800.
$2,200
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