The assets and liabilities of Matt Wesley Auto Shop are as follows: Cash, $10,000; Accounts receivable, $8,200; Supplies, $1,050; Land, $25,000; Accounts payable, $6,530. What is the amount of owner's...

Extracted text: The assets and liabilities of Matt Wesley Auto Shop are as follows: Cash, $10,000; Accounts receivable, $8,200; Supplies, $1,050; Land, $25,000; Accounts payable, $6,530. What is the amount of owner's equity? Your answer: O $37,720 O $21,500 O $44,430 O $50,780