The summarised Balance Sheet of Midas Products at 30 June 1984was as follows:

Fixed assets Goodwill Current assets Owners' interest Current liabilities

£

46000 20000 18500

£84500 67000 17500

£84500 Financial Accounting and Reporting Goodwill was originally acquired at a cost of£40000 and is being expensed over a period of 20 years by equal annual instalments. If the company had written off the goodwill immediately on acquisition, the owners' interest would now stand at:

(a) £27000;

(b) £47000;

(c) £49000;

(d) £67000.