Park & Company was recently formed with a $6,200 investment in the company by shareholders in exchange for common shares. The company then borrowed $3,200 from a local bank, purchased $1,120 of supplies on account, and also purchased $6,200 of equipment by paying $2,120 in cash and signing a promissory note for the balance. 

Based on these transactions, what are  the company's total assets?

Answer rating: 100% (QA)

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