On August 31 of the current year, the assets and liabilities of Gladstone, Inc. are as follows:

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Question:

On August 31 of the current year, the assets and liabilities of Gladstone, Inc. are as follows: Cash $30,000; Supplies, $600; Equipment, $10,000; Accounts Payable, $8,500. What is the amount of stockholders' equity as of August 31 of the current year?

A. $10,900

B. $30,900

C. $32,100

D. $12,100

E. $49,100