Niehues's New Houses, a maker of tiny homes (with flowers, of course), has cash in the bank of $1,000, equipment that cost $20,000 that has accumulated depreciation of $5,000, bank loans of $40,000, accounts payable of $3,000, accounts receivable of $6,000, inventory of $3,000, real estate worth $50,000. How much is their owner's equity? (Show your work)