On January 1, Company E has total assets of $500,000 and total liabilities of $200,000. On January 2, Company E entered into the following three transactions.

a. Sold inventory costing $105,000 to customers for $150,000. The customers paid $100,000 in cash and the remaining $50,000 was put on the customers accounts.

b. Paid employee wages totaling $28,000. These wages had not been previously recorded.

c. Borrowed $85,000 cash with a long-term bank loan.

After these three transactions, compute Company Es TOTAL OWNERS EQUITY.

$285,000

$232,000

$317,000

$267,000

$272,000