Answer:
$581
Explanation:
The accounting equation gives the relationship between elements of the balance sheet as
Assets = Liabilities + Equity
Given that for Finore Manufacturing on 12/31/14, it's balance sheet
Cash = $150
Other current assets = $397
Property, plant, & equipment, net of depreciation = $538
Current liabilities = $324
Total Liabilities = $504
Hence, total assets = $150 + $397 + $538
= $1085
Finore Manufacturing’s equity as on December 31, 2014
= $1085 - $504
= $581
