A corporation was incorporated on January 1, Year 6, with $500,000 from the issuance of stock and borrowed funds of $75,000. During the first year of operations, net income was $25,000. On December 15, the corporation paid a $2,000 cash dividend. No additional activities affected equity in Year 6. At December 31, Year 6, the corporation's liabilities had increased to $94,000. In the corporation's December 31, Year 6 balance sheet, total assets should be reported at
A. $598,000
B. $600,000
C. $692,000
D. $617,000
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