Mike's Mowing had the following assets and liabilities:

Cash

$5,000

Accounts payable

$4,000

Inventory

$2,700

Accounts receivable

$8,100

Office furniture

$4,500

Bank loan

$15,000

Equipment

$12,000

What would owners' equity be?

Select one:

a.

$2,300.

b.

$13,300.

c.

$31,000.

d.

$42,000.

e.

None of the above is correct.