12. The description of the relation between a company's assets, liabilities and equity, which is expressed as Assets-Liabilities + Equity are known as the: A. Income statement equation B. Accounting equation C. Business equation D. Return on equity ratio E. Net income 13. If assets are S99,000 and liabilities are $32,000, then equity equals A. $32,000 B. $67,000 C. $99,000 D. $131,000 E. $198,000 14. The distribution of assets to stockholders is called a(n) A. Liability B. Dividend C. Expense D. Contribution E. Investment 15. Our company has three times as many assets as it does liabilities. If total liabilities are S55,000, what is the amount of owners' equity? A. $55,000 B. $110,000 C. $165,000 D. $220,000 E. Cannot be determined from the given information