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On January 1 of the current year, three individuals organized Northwest Company as a corporation. Each individual invested $ 1 1 , 0 0 0

On January 1 of the current year, three individuals organized Northwest Company as a corporation. Each individual invested $11,000 cash in the business. On December 31 of the current year, they prepared a list of resources owned (assets) and debts owed (liabilities) to support a company loan request for $70,000 submitted to a local bank. None of the three investors had studied accounting. The two lists prepared were as follows:
Company resources
Cash $ 11,500
Service supplies inventory (on hand)8,200
Service trucks (four, practically new)147,800
Personal residences of organizers (three houses)140,000
Service equipment used in the business (practically new)27,000
Bills due from customers (for services already completed)29,500
Total $ 364,000
Company obligations
Unpaid wages to employees $ 13,000
Unpaid taxes 8,000
Owed to suppliers 19,000
Owed on service trucks and equipment (to a finance company)34,000
Loan from organizer 16,000
Total $ 90,000
calculate the amount of stockholder's equity

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