The following transactions occurred during April, the first month of operations for Kruger Industrial Smoothing Co.: Issued 50,000 shares of capital stock to the owners of the corporation in exchange for $1,000,000 cash. 1. Purchased a piece of land for $600,000, making a $150,000 cash down payment, and signing a note payable for the balance. Made a $80,000 cash payment on the note payable from the purchase of land. Purchased equipment on credit for $43,000. What is the owners' equity balance at the end of April? O $1,000,000 $850,000 $920,000 $957,000