ssued 60,000 shares of capital stock to the owners of the corporation in exchange for $720,000 cash. Purchased a piece of land for $500,000, making a $200,000 cash down payment and signing a note payable for the balance. Made a $70,000 cash payment on the note payable from the purchase of land. Purchased equipment on credit from BBW, Incorporated for $73,000. What are total assets of Hunter Products at the end of May