On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of equity as of May 31 of the current year?
A. $49,700.
B. $31,100.
C. $40,400.
D. $13,050.
E. $20,500.
Answer: B
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