Martin's Spa and Salon's Assets Total $148,000

Multiple Choice

Martin's Spa and Salon's assets total $148,000.The total amount of debt that it owes to others is $87,000.Which of the following is correct?

A) David's owners' equity is $87,000.
B) The owners' equity in David's is $61,000.
C) David's liabilities are $148,000.
D) The firm's liabilities are $61,000.
E) The firm has more owners' equity than liabilities.