Required information [The following information applies to the questions displayed below.] The following transactions occurred during March, the first month of operations for Quality Galleries, Inc.: * Capital stock was issued in exchange for $358,000 cash. * Purchased $176,000 of equipment by making a $58,000 cash down payment and signing a note payable for the balance. * Made a $34,000 cash payment on the note payable from the purchase of equipment. * Sold a piece of equipment for cash of $16,000. The equipment was sold at cost, so there is no gain or loss on the sale. What is the total owners' equity at the end of March?

Multiple Choice

$282,000.

Incorrect $442,000.

$476,000.

$358,000.