Troy Co Began Operations on January 1, 2011, with $100,000 from from the Issuance

Multiple Choice

Troy Co. began operations on January 1, 2011, with $100,000 from the issuance of stock and borrowed funds of $15,000. Net income for 2011 was $5,000 and Troy paid a $400 cash dividend on December 15. No additional activities affected owners' equity in 2011. At December 31, 2011, Troy's liabilities had increased to $18,800. In Troy's December 31, 2011, balance sheet, total assets should be reported at

A) $119,600.
B) $120,000.
C) $123,400.
D) $138,400.