Siam Traders

Balance Sheet

As of January 24, 2020

(amounts in thousands) Cash 9,100 Accounts Payable 1,900 Accounts Receivable 4,400 Debt 2,400 Inventory 4,800 Other Liabilities 600 Property Plant & Equipment 15,600 Total Liabilities 4,900 Other Assets 2,600 Paid-In Capital 6,900 Retained Earnings 24,700 Total Equity 31,600 Total Assets 36,500 Total Liabilities & Equity 36,500

Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer the question.

Jan 25. Sell product for $30,000 in cash with historical cost of $24,000

Jan 26. Sell, deliver, and receive payment of $40,000 for service

Jan 27. Consume good or service and pay expense of $2,000

What is the final amount in Total Assets?