During its first year of operations, Mario Lupo formed Lupo Company as a corporation and personally invested $$15,000$ in the business in exchange for common stock. Lupo Company also paid dividends of $$2,000.$ The company earned $$35,000$ of revenues and incurred $$23,000$ of expenses. At the end of the year, the company's equity totaled:

$$13,000$

$$15,000$

$$25,000$

$$75,000$