On August 31 of the current year, the assets and liabilities of Gladstone, Inc. are as follows: Cash $27,900; Supplies, $900; Equipment, $8500; Accounts Payable, $7300. What is the amount of equity as of August 31 of the current year?
A. $13,000.
B. $29,100.
C. $11,200.
D. $30,000.
E. $28,200.
Answer: D
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