After a year your costume company has the following balance sheet items at year end.

Long$-$term debt: $$15,000$

Cash: $$5,000$

Accounts payable: $$30,000$

Long$-$term assets: $$20,000$

Accounts receivable: $$50,000$

Inventory: $$40,000$

What is your company's equity?

Answer rating: 100% (QA)

In calculating the equity of the company we use the accountin... View the full answer