Answer:
Explanation:
The above problem is solved in the picture attached below. I could not make use of the table in this tool that is why i made use of paper and pen and the solution is much explanatory. Thank you
The value of equity in economics is obtained by first adding the values of the total current assets and long-term assets and then subtracting this sum to the summation of total current liabilities and long-term liabilities.
In this case, we classify each of the given data to the following categories included in the equation above. The current asset is $30,000; long term assets are for supplies and equipment and lastly, the current liability is $8500. Substituting to the given equation for equity computation above, then
Equity = $30,000 + $600 + $10000 - $8500 = $32000
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This is the amount of money to construct Gladstone, Inc.
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