Lse the ollowing to anwwer qestions 26-29 for Michaet Odlowing trwnsactions occurred during Mareh, the first month of operations uilding Ine. stock was issued to Bill Michael in exchange for $120,000 cash signing a note of equipment by making a $25,000 cash down payment and cash payment on the note payable from the purchase of equipment " Purchased payable for the balance Made a $23,000 Sold a piece of equipment for cash of $6,000. The equipment was sold at cost, so there is no gain or loss on the sale. 26. Refer to the above data. What is the balance in the Cash account at the end of M A) S$78,000. B) S101,000. C) S103,000. D) $72,000. 27. Refer to the above data. What are total assets of Michael Building, Inc. at the end of March? A) $66,000. B) S90,000. C) $132,000. D) $120,000. 28. Refer to the above data. What is the balance in the Note Payable account at the end of March? A) $35,000. B) $12,000. C) $23,000