Brite Inc.had the following assets and liabilities at the end of the year: $$\begin{array} { l l }
\text { Assets } & \$ 54,800 \
\text { Liabilities } & \$ 32,000
\end{array}$$ What is the year-end stockholders' equity of Brite Inc.?
A) $32,000
B) $22,800
C) $86,800
D) Cannot be determined with this information

Question

Brite Inc.had the following assets and liabilities at the end of the year: $$\begin{array} { l l } 
\text { Assets } & \$ 54,800 \
\text { Liabilities } & \$ 32,000
\end{array}$$ What is the year-end stockholders' equity of Brite Inc.?
A) $32,000
B) $22,800
C) $86,800
D) Cannot be determined with this information

Quizplus · Accepted Answer

Stockholders' equity is calculated as Assets minus Liabilities, which is $54,800 - $32,000 = $22,800.

Brite Inchad the Following Assets and Liabilities at the End of of the Year