Hawaii Surfboards had the following assets and liabilities. The total for equity equals:

$

Cash at bank 5 000

Mortgage 25 000

Creditors 9 000

Surfing supplies 3 800

Debtors 12 200

Surfing equipment 8 600

Loan from Honolulu Bank Ltd 7 000

Motor vehicle 19 000

Select one:

a.

$25 600.

b.

$7 600.

c.

$1 200.

d.

$39 600.