On Monday, ABC candy company’s entire balance sheet comprised real assets of $500 million and cash of $ 50 million. It had no debt (nor preferred shares). On Tuesday ABC established a line of credit...

On Monday, ABC candy company’s entire balance sheet comprised real assets of $500 million and cash of $ 50 million. It had no debt (nor preferred shares). On Tuesday ABC established a line of credit for $100 million with “Bank of Texas”. On Wednesday morning ABC drew down $20 million from its credit line and kept it in cash for later use. Which of the following is correct regarding PBC Wednesday afternoon? A) debt of $100 million and assets of $550 million. B) debt of $100 million and assets of $650 million C) Debt of $20 million and assets of $570 million D) Debt it $20 million and assets of $650 million E) Debt of $20 million and assets of $630 million