Question: When preparing a draft of its year 2 balance sheet, Mont, Inc. reported net assets totaling $875,000. Included in the asset section of the balance

When preparing a draft of its year 2 balance sheet, Mont,

When preparing a draft of its year 2 balance sheet, Mont, Inc. reported net assets totaling $875,000. Included in the asset section of the balance sheet were the following: Treasury stock of Mont, Inc. at cost $24,000 Idle machinery 11.200 Cash surrender value of life insurance on corporate executives 13,700 At what amount should Mont's net assets be reported in the December 31, year 2 balance sheet? O $851,000 O $842,600 O $834,500 O $850,100

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