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At January 1, 1999, King Corporation's assets totaled $76,000, and its liabilities amounted to $42,000. Net income for 1999 was $17,000, and owner drawings amounted

At January 1, 1999, King Corporation's assets totaled $76,000, and its liabilities amounted to $42,000. Net income for 1999 was $17,000, and owner drawings amounted to $13,000. The amount of owner's equity at December 31, 1999 is: a. $38,000. b. $51,000. c. $80,000. d. $93,000

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