Question: Balance Sheet: January 1, 2017 Assets Current Assets Checking $15,400 Savings $13,000 Account Receivable $2,500 Inventory $9,800 Fixed Assets Building improvements $4,000 Equipment $89,000 Liabilities

Balance Sheet: January 1, 2017 Assets Current Assets Checking $15,400 Savings $13,000 Account Receivable $2,500 Inventory $9,800 Fixed Assets Building improvements $4,000 Equipment $89,000 Liabilities Current Liabilities Accounts Payable $18,800 Payroll $7,700 Unearned Revenue $17,500 Long-Term Debt Loan for equipment $120,500

What is the ownership equity?

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