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PURRFECT PETS, INC. Balance Sheet at June 30, Year 1 Assets Liabilities Cash $732,600 Accounts Payable $349,200 Accounts Receivable 419,200 Notes Payable due June 30,
PURRFECT PETS, INC. Balance Sheet at June 30, Year 1 | |||
Assets | Liabilities | ||
Cash | $732,600 | Accounts Payable | $349,200 |
Accounts Receivable | 419,200 | Notes Payable due June 30, Year 3 | 268,900 |
Supplies | 58,400 | Total Liabilities | 618,100 |
Equipment | 118,500 | ||
Other Assets | 69,400 | Stockholders' Equity | |
Common Stock | 662,100 | ||
Retained Earnings | 117,900 | ||
Total Stockholders' Equity | 780,000 | ||
Total Assets | $1,398,100 | Total Liabilities & Stockholders Equity | $1,398,100 |
Use the information above to answer the following question. How much financing did the stockholders of Purrfect Pets, Inc., directly contribute to the company?
A.)$117,900.
B.)$662,100.
C.)$780,000.
D.)$1,398,100.
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