A Company's Balance Sheet Contained the Following Information Notes Payable Is the Only Other Item on the Balance

Multiple Choice

A company's balance sheet contained the following information: $\begin{array}{lrrr}\text { Common Stock } & \$ 24,000 & \text { Total Assets } & \$ 352,000 \\\text { Accounts Payable } & 128,000 & \text { Retained Earnings } & 56,000\end{array}$ Notes Payable is the only other item on the balance sheet.Notes Payable must equal:

A) $400,000.
B) $16,000.
C) $144,000.
D) $688,000.