At the end of the current year, the owner's equity in LaRose Corporation is $188,000. During the year, the assets of the business had increased by $90,000, and the liabilities had increased by $36,000. Owner's equity at the beginning of the year must have been: Select one: O a. $134,000 O b. $242,000 O c. $314,000 O d. $494,000 O e. $126,000 Given the following information: Overstated Sales Discounts Bad Debt Expense Freight-in Understated 5 2 7 Gross Profit is: Select one: O a. Overstated $2 O b. Understated $2 O c. Overstated $7 O d. Understated $7 O e. Overstated $3 Which item will not directly adjust Retained Earnings? Select one: O a. Correction of Error O b. Change in accounting estimate O c. Change in accounting principle O d. Prior Period Adjustment The assumption that a business enterprise can divide its economic activities into artificial lengths of time is the: Select one: O a. Economic entity O b. Periodicity assumption ion O c. Monetary unit assumption O d. Conservatism assumption O e. Going concern assumption