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What was people first consulting pty ltd equity

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Problem 1: People First Consulting Pty Ltd started the year with total assets of $80,000 and total liabilities of $40,000. During the year the business earned $150,000 in income, incurred $95,000 in expenses and dividends of $20,000 were paid. What was People First Consulting Pty Ltd's equity at the end of the period?

a) $20,000
b) $40,000
c) $45,000
d) $75,000

Reference no: EM132654749

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