Calculate the total assets, liabilities, and equity on a balance sheet that is prepared for a hypothetical business.
Lisa is the owner of a company in which she originally invested $15,500. On her most recent balance sheet, her liabilities total $4,500 and her assets total $28,500.
Which of the following is the correct total of Lisa's equity?
A.)
$11,000
B.)
$13,000
C.)
$20,000
D.)
$24,000