La Candelaria plans to sell 1,000 scented candles for cash in its first month in business. The candles cost $5 and sell for $12. The owners plan to invest $5,000 in the business and sell online only. Administrative and marketing expenses for the month are projected to be $10,000 paid by EFT during the month. The owners will borrow $3,000 from the bank and plan to buy a computer system for $4,000. The company plans to order 1,300 candles on credit which will be paid back in the second month in business. What will be the amount of total assets at the end of the first month?

Box 1: Select the best answer