Q6

ABC Company began operations on May 1, 2024 when owners invested $85,eee cash into the business in exchange for shares of stock. ABC Company entered into the following transactions during 2024: June 1: August 1: September 1: October 1: November 1: December 31: Purchased a two-year insurance policy for $21,eee cash. Purchased supplies costing $24, eoe and purchased inventory costing $39, eee. Both the supplies and the inventory were purchased on account. Sold two-thirds of the inventory that was purchased on August 1 to a customer for $47,eee cash. Paid a dividend to stockholders in the amount of $3,eee. Made a $5e, eee payment to the vendor from whom the inventory and supplies were purchased from. Based on a physical count, supplies costing $16, eee were still on hand. Calculate the amount of total assets that ABC Company would report in its December 31, 224 balance sheet after all the above transactions are recorded and all adjusting entries are made at December 31, 224.