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The Smith Company has assets of $350,000, liabilities of $130,000, and retained earnings of $180,000. How much is total owners' equity? $ 40,000 $170,000 $220,000

The Smith Company has assets of $350,000, liabilities of $130,000, and retained earnings of $180,000. How much is total owners' equity?

$ 40,000

$170,000

$220,000
$350,000

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