The balance sheet for Caleb's Surf Shop shows current assets of $65,000, fixed assets of $104,000, and total liabilities of $157,000. Its current assets include accounts receivable totalling $41,000. The store's current liabilities equal $67,000. Calculate owners' equity.
A) $41,000
B) $12,000
C) $78,000
D) $2,000
E) He has no owners' equity.

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The Answer of The balance sheet for Caleb's Surf Shop shows current assets of $65,000, fixed assets of $104,000, and total liabilities of $157,000. Its current assets include accounts receivable totalling $41,000. The store's current liabilities equal $67,000. Calculate owners' equity.
A) $41,000
B) $12,000
C) $78,000
D) $2,000
E) He has no owners' equity.

The Balance Sheet for Caleb's Surf Shop Shows Current Assets