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What is the amount of total shareholders equity

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Question - The following information is provided for Sacks Company before closing entries.

Cash $12,000

Supplies 4,500

Prepaid rent 2,000

Salaries expense 4,500

Equipment 65,000

Service revenue 30,000

Miscellaneous expenses 20,000

Dividends 3,000

Accounts payable 5,000

Common stock 68,000

Retained earnings 8,000

Required - What is the amount of total shareholders' equity?

a. $5,000.

b. $68,500.

c. $78,500.

d. $5,000.

e. $83,500.

Reference no: EM132842652

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