Answer:
Stockholders’ equity is $132,000
Explanation:
<u>Assets</u>
Accounts receivables = $65,000
Furniture totaling = $205,000
Cash <u>= $52,000</u>
Total Assets <u>= $322,000</u>
<u>Equity and Liabilities</u>
<u>Equity</u>
Stockholders’ equity = $132,000
<u>Liabilities</u>
Note payable = $109,000
bank <u>= $81,000</u>
Total Equity & Liabilities<u>= $322,000</u>
* Equity=Total Assets-Liabilities=$322,000-($109,000+$81,000)=$132,000