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Answer (B) is correct . The year-end total assets can be determined by summing all of the assets and deducting accumulated depreciation (including the current year’s depreciation). Total accumulated depreciation at the end of the second year is $120,000 [($600,000 ÷ 10 years) × 2 years]. Total assets equal $890,000 ($80,000 cash + $100,000 A/R + $230,000 EI + $600,000 gross fixed assets – $120,000 accumulated depreciation).

Answer (A) is incorrect because Using the beginning balance of inventory results in $800,000.
Answer (C) is incorrect because Omitting second-year depreciation from the calculation results in $950,000.
Answer (D) is incorrect because Omitting total accumulated depreciation from the calculation results in $1,010,000.