Multiple Choice
The balance sheet for Greeley Contracting shows assets totaling $207,000 and liabilities totaling $95,000. Which of the following statements is correct?
A) Owners' equity equals $182,000.
B) Current assets are worth $92,000.
C) Net income for the period is $112,000.
D) Owners' equity equals $112,000.
Correct Answer:
Verified
Correct Answer:
Verified
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