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Max Corphas Total Assets of $100 Million and Total Liabilities of of $30

Question 161

Multiple Choice

Max Corp.has total assets of $100 million and total liabilities of $30 million.Last year it earned a profit of $3 million.What is owners' equity at Max Corp.?


A) $3 million
B) $100 million
C) $103 million
D) $73 million
E) $70 million

Correct Answer:

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