Lightspeed Industries

Balance Sheet

As of March 11, 2020

(amounts in thousands) Cash 14,100 Accounts Payable 1,900 Accounts Receivable 3,200 Debt 3,600 Inventory 4,900 Other Liabilities 2,000 Property Plant & Equipment 16,300 Total Liabilities 7,500 Other Assets 500 Paid-In Capital 7,200 Retained Earnings 24,300 Total Equity 31,500 Total Assets 39,000 Total Liabilities & Equity 39,000

Use T-accounts to record the transactions below, which occur on March 12, 2020, close the T-accounts, and construct a balance sheet to answer the question.

1. Issue $80,000 in stock

2. Borrow $65,000 from a bank

3. Receive payment of $12,000 owed by a customer

4. Pay $6,000 owed to a supplier

5. Buy $17,000 worth of manufacturing supplies on credit

What is the final amount in Total Assets?