In March 2017, Simon Becker and several investors established a business to provide football training services. The business began operations immediately. Transactions during the month of March were as follows:

Mar. 2 Becker invested $80,000 in the business in exchange for capital stock.

Mar. 4 Purchased a truck for $60,000. Made a $10,000 cash down payment and issued a note payable for the remaining balance.

Mar. 14 Billed customers $9,500 for services performed during the first half of March.

Mar. 15 Paid $6,700 in salaries earned by employees during the first half of March.

Mar. 19 Paid Joe's Auto $800 for maintenance and repair services on the company truck.

Mar. 20 Collected $4,200 of the amounts billed to customers on March 14.

Mar. 28 Billed customers $12,200 for services performed during the second half of the month.

Mar. 29 Paid Neck Properties $6,000 to rent office space for the month March.

Mar. 30 Paid $7,200 in salaries earned by employees during the second half of the month.

Mar. 30 Received a $720 bill from MEDCO Petroleum for fuel purchased in March. The entire amount is due by April 15.

Mar. 30 Dividends of $1,000 were declared to stockholders, payable on April 15.

 

a. Calculate the amount of cash on hand at the end of March.

b. Calculate the amount of total equity at the end of March.