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At January 1, 2008, Burton Industries reported owners equity of $130,000. During 2008, Burton had a net income of $30,000 and owner drawings of $20,000.

At January 1, 2008, Burton Industries reported owners equity of $130,000. During 2008, Burton had a net income of $30,000 and owner drawings of $20,000. At December 31, 2008, the amount of owners equity is a. $130,000. b. $140,000. c. $100,000. d. $80,000.

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