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The following transactions occurred during May, the first month of operations for Hunter Products, Inc.: * Issued 50,000 shares of capital stock to the owners of the corporation in exchange for $600,000 cash. * Purchased a piece of land for $400,000, making a $150,000 cash down payment and signing a note payable for the balance. * Made a $60,000 cash payment on the note payable from the purchase of land. * Purchased equipment on credit from BBW, Inc. for $63,000.

What are total assets of Hunter Products at the end of May?

Select one:

a. $913,000

b. $790,000

c. $853,000

d. $916,000