Joe Donaldson Deposited $80,000 in a Bank Account, Purchased a Company

Multiple Choice

Joe Donaldson deposited $80,000 in a bank account, purchased a company for $60,000 cash (Building $40,000 and Inventory $20,000) , performed services for clients for $10,000 cash, purchased supplies for $5,000 cash, and paid utilities of $2,000 cash. What is the amount of total assets?

A) $80,000
B) $78,000
C) $88,000 D None of the above