You are examining the year-end balance sheet for your business. According to the information in the Balance Sheet, what is your equity in the Balance Sheet for year ending December 31 Assets Cash: 15,000 Inventory: 2,000 - Equipment: 10,000 Total Assets: 27,000 Liabilities Credit card balance 3,500 Long-term debt: 0 Unearned revenues: 2,500 Total Liabilities: 6,000 A. 6,000 B. 15,000 C. 21,000 D. 27,000 Go To Summary

To calculate the equity in the balance sheet, we need to subtract the total liabilities from the total assets.Total Assets = 6,000Equity = Total Assets - Total LiabilitiesEquity = 6,000Equity = $21,000Therefore, the correct answer is C.,000.