Question: Please provide the solution to this general accounting question with accurate financial calculations. On January 1, 2020, Pinecrest Manufacturing reported owner's equity of $150,000. During

Please provide the solution to this general accounting question with accurate financial calculations.

On January 1, 2020, Pinecrest Manufacturing reported owner's equity of $150,000. During 2020, Pinecrest had a net income of $40,000 and owner drawings of $25,000. On December 31, 2020, what is the amount of owner's equity? a. $150,000 b. $165,000 c. $120,000 d. $105,000

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