Answer:
Total stockholders' equity 87,000
Explanation:
To solve for total stockholders' equity we can determinate using the accounting equation:
Assets = Liabilities + Equity
We need to determinate asset and and liabilities:
<u>Assets:</u>
Cash 70,000
Accounts Receivable 28,000
Supplies <u>4,000</u>
<em>Total Assets: 102,000</em>
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<u>Liabilities:</u>
Accounts Payable 10,000
Notes Payable 5,000
<em>Total Liabilities 15,000</em>
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102,000 = 15,000 + Equity
Equity = 102,000 - 15,000 = 87,000