Assets at New Fashion Stores,Inc.equal $10 million.Liabilities equal $8 million.Therefore,owners' equity equals $2 million.

Name: Assets at New Fashion Stores,Inc.equal $10 million.Liabilities equal $8 million.Therefore,owners' equity equals $2 million.
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This statement is true. The formula for the accounting equation is Assets = Liabilities + Owners' Equity. Substituting the given values, we get: 
$10 million = $8 million + Owners' Equity
Owners' Equity = $2 million