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The balance sheet for Springer Contracting shows assets totaling $207,000 and liabilities totaling $95,000. Which...

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Accounting

The balance sheet for Springer Contracting shows assets totaling $207,000 and liabilities totaling $95,000. Which statement is correct?
Multiple Choice
Owners equity equals $182,000.
Current assets are worth $92,000.
Net income for the period is $112,000.
Owners equity equals $112,000.

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