Answer:
The total assets = $136,000
Total liabilities = $26,000
Step-by-step explanation:
Given:
Total cash = $5,000
Accounts payable = $26,000
accounts receivable = $38,000
inventory = $28,000
cost of land = $65,000
Now,
the total assets = Total cash + accounts receivable + inventory + cost of land
or
the total assets = $5,000 + $38,000 + $28,000 + $65,000 = $136,000
Total liabilities = $26,000