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What is the total beginning balance in the statement

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Question - Calculate missing information on a statement of changes in owner's equity that is being prepared for a hypothetical business.

Statement of Changes in Owner's Equity

Beginning Balance Net Income $22,000

Drawings $1,500

Ending Balance $76,500

Required - What is the total beginning balance in the statement of changes in owner's equity that Tyler drafted for his shoe store, shown here?

a) $23,500

b) $56,000

c) $53,000

d) $20,500

Reference no: EM132621006

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