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 owner's equity as of August 31 of the current year?
A. $32,100.
B. $30,900.
C. $49,100.
D. $10,900.
E. $12,100.
Answer: A
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