The financial statements of MOCHI CORP., for the year ended December 31, 2020, is under review by the executives.

The net asset for the year is shown as $3,500,000. Since December 31, 2020 the following events have occurred, but have not been reflected in the financial statements to date:

A substantial quantity of slow-moving inventory was sold for $320,000. The inventory had cost of $600,000 and had been valued for the accounts at December 31, 2020 at its estimated net realizable value of $400,000

A trade receivable paid the amount owing of $130,000 in full. At December 31, 2020 there were doubts as to whether it would be paid, and a specific provision for the full amount had been made in the accounts.

What is the adjusted amount of net asset should MOCHI CORP. report in its December 31, 2020 statement of financial position?

a)$3,550,000

b)$3,420,000

c)$3,630,000

d)$3,500,000