On December 31, 2019, ABC Company reported total assets of $390,000 and total liabilities of $110,000 prior to the following adjusting entries:

Depreciation expense was $31,000

Accrued salaries expense totaled $12,000

The company used up $9,000 worth of an insurance policy, which was initially recorded as a prepaid expense asset

Rent revenue of $7,000 was earned, where the rent was initially prepaid by the tenant and credited to unearned rent revenue.

How much are the company's total assets after adjusting entries?

A.$350,000

B.$386,000

C.$379,000

D.$374,000

How much are the company's total liabilities after adjusting entries?

A.$115,000

B.$141,000

C.$86,000

D.$110,000