The Balance Sheet for Renuvation LLC Shows Assets Totaling $107,000

question 36

Multiple Choice

The Balance Sheet for Renuvation LLC shows assets totaling $107,000 and liabilities totaling $75,000.Which of the following statements is correct?

• A)Owner's Equity equals $182,000.
• B)Current Assets are worth $32,000.
• C)Net Income for the period is $32,000.
• D)Owner's Equity equals $32,000.

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