Question $3$

Cincinnati Supply, Co$.$ is a local supplier to the Kraft Heinz Company, which is the third$-$

largest food and beverage company in North America and the fifth$-$largest food and beverage

company in the world.On August $31$ of the current year, the assets and liabilities of Cincinnati

Supply. Co$.$ are as follows: Cash $$27,900$; Supplies, $$900$; Equipment, $$8,500$; Accounts

Payable, $$7,300.$ What is the amount of equity as of August $31$ of the current year?

$$29\mathrm{.}100$

$$11,200$

$$28,200$

$$30,000$