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A scooter rental company is attempting to get their business up in America after being successful in Europe. They start with $5 million in equity.
A scooter rental company is attempting to get their business up in America after being successful in Europe. They start with $5 million in equity. The company owners purchase a building for $2 million, and purchase rental scooters for 2$ million. They leave $1 million in cash for emergencies that may arise throughout the year The scooter rental business does very well their first year. Their revenue from their rentals is $3 million. They pay $500,000 in salaries and $1 million in expense that year was taxes to the government of $500,000. What is the company's change in equity? scooter upkeep. Their only other O A. $3 million 0 B. $1 million o C. $1.5 million mat D. $2 million 1000%
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