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Question(s) / Instruction(s):

 A company's balance sheet shows: cash $22,000, accounts receivable $16,000, office equipment $50,000, and accounts payable $17,000. What is the amount of owner's equity?

a)            $17,000.

b)            $29,000.

c)            $71,000.

d)            $88,000.

e)            $105,000.

 

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