A company is obligated to pay its creditors $6,685 at the end of the year. If the value of the company's assets equals $6,909 at that time, what is the value of shareholders' equity?

Multiple Choice

• A $13,594

• B $224

• C $0

• D $112

• E $224

Beach Wear has current liabilities of $350,000, a quick ratio of 1.65, inventory turnover of 4.7, and a current ratio of 2.9. What is the cost of goods sold?

Multiple Choice

• A $1,980,500

• B $1,760,750

• C $1,950,000

• D $2,056,250

• E $1,560,000