Problem
Lennon Company recently purchased a new 3d printer for $80,000. Lennon also incurred shipping charges of $2,500 and paid a tariff of $8,000 to get the printer into the country. Lennon hired a consultant for $5,000 to train its employees to use the new machine. Lennon purchased an insurance policy on the machine for $4,500 for the first year of operations. What dollar amount will Lennon show on its balance sheet for the new printer?