+ _0 75 Part III - 3 Marks Each - Total 27 Marks /$ 2:1. Previous Page Next Page Regen Question 26 (3 points) Blackfly Ltd. is a company that specializes in reforestation. The company has cash assets of $80,000 and liabilities of $30,000. Blackfly Ltd. pays off the $30,000 of debt. Blackfly Ltd. borrows another $30,000 and uses the money to buy baby trees. At this point the accounting equation is Page 3 of 3 assets: $50,000; liabilities: $30,000; equity: $20,000 assets: $80,000; liabilities: $0,000; equity: $50,000 assets: $50,000; liabilities: $0; equity: $50,000 none of the other options assets: $110.000; liabilities: $30,000; equity: $80,000