Peter Pesky is trying to describe the difference between Owners' Equity and Liabilities to his potential business partner. Which of the following descriptions best explains that difference? Owners' Equity and Liabilities are the same O None of the above answers is correct Liabilities are claims on Assets by Owners Owners' Equity are claims on Assets by Owners O Owners' Equity is made up of only Income Statement Accounts, while Liabilities include Balance Sheet Accounts