The Balance Sheet for Jim's Hardware Has the Following Items

question 38

Multiple Choice

The balance sheet for Jim's Hardware has the following items listed.Current Liabilities,$25,345;Long Term Debt,$100,000;Total Liabilities,$125,345;Total Assets,$325,490.What is the Owner's Equity for this company?

• A)$225,490
• B)$200,145
• C)$25,345
• D)Cannot calculate with the information provided.

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