The Following Items Are Components of a Traditional Balance Sheet

Multiple Choice

The following items are components of a traditional balance sheet. How much are the total assets of the firm? $\begin{array}{lc}\text { Plant and equipment } & \$ 42,000 \\\text { Common stock } & 15,000 \\\text { Cash } & 8,000 \\\text { Inventory } & 21,000 \\\text { Bad debt reserve } & 6,000 \\\text { Paid in excess } & 6,000 \\\text { Accumulated depreciation } & 28,000 \\\text { Accountsreceivable } & 22,000\end{array}$

A) $87,000
B) $65,000
C) $59,000
D) $93,000