A Company Was Formed with $300,000 Cash Contributed by Its

Multiple Choice

A company was formed with $300,000 cash contributed by its owners in exchange for common stock.The company borrowed $150,000 from a bank.The company purchased $50,000 of inventory and paid cash for it.The company also purchased $350,000 of equipment by paying $50,000 in cash and issuing a note for the remainder. What is the amount of the total liabilities to be reported on the balance sheet?

A) $300,000
B) $0
C) $450,000
D) $400,000