None Franklin Corporation has common stock of $12,500, paid-in surplus of $8,700,total liabilities of $15,300, current assets of $9,200, and fixed assets of $29,800.What is the amount of the shareholders' equity?a) $13,500b) $21,200c) $23,700d) $39,000e) $53,700

Step 1: Definition of Shareholders' EquityShareholders' equity is the portion of a company's total…

Answered: Franklin Corporation has common stock…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Franklin Corporation has common stock of $12,500, paid-in surplus of $8,700, total liabilities of $15,300, current assets of $9,200, and fixed assets of $29,800. What is the amount of the shareholders' equity? a) $13,500 b) $21,200 c) $23,700 d) $39,000 e) $53,700