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How much should equity be after making the adjustment

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Question - A firm reports assets of $7,500 on the Income Statement.  On the balance sheet, they report assets of $75,000.  Equity of $25,000 and liabilities of $50,000 which includes a deferred tax liability $5,000.  If the tax rate is 25%, then how much should equity be after making the adjustment? 

a) $10,000 

b) $15,000

c) $20,000 

d) $30,000

Reference no: EM131728344

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