Nippon Technology

Balance Sheet

As of March 11, 2018

Cash 13,700,000 Accounts Payable 2,000,000 Accounts Receivable 3,200,000 Debt 3,600,000 Inventory 5,100,000 Other Liabilities 900,000 Property Plant & Equipment 15,400,000 Total Liabilities 6,500,000 Other Assets 800,000 Paid-In Capital 7,200,000

Retained Earnings 24,500,000

Total Equity 31,700,000 Total Assets 38,200,000 Total Liabilities & Equity 38,200,000

Use T-accounts to record the transactions below, which occur on March 12, 2018, close the T-accounts, and construct a balance sheet to answer the question.

1. Sell, deliver, and receive payment of $20,000 for service

2. Consume good or service and pay expense of $2,000

3. Sell product for $25,000 in cash with historical cost of $20,000

What is the final amount in Total Assets?