Max Corp. has total assets of $100 million and total liabilities of $30 million. Last year it earned a profit of $3 million. What is owners' equity at Max Corp.?
$3 million
$100 million
$103 million
$73 million
$70 million

Question

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The Answer of Max Corp. has total assets of $100 million and total liabilities of $30 million. Last year it earned a profit of $3 million. What is owners' equity at Max Corp.?
$3 million
$100 million
$103 million
$73 million
$70 million

Max Corp Has Total Assets of $100 Million and Total Liabilities