(Answered) Question - a firm reports assets of 7500 on the income

Accounting

Question - A firm reports assets of $7,500 on the Income Statement. On the balance sheet, they report assets of $75,000. Equity of $25,000 and liabilities of $50,000 which includes a deferred tax liability $5,000. If the tax rate is 25%, then how much should equity be after making the adjustment?

a) $10,000

b) $15,000

c) $20,000

d) $30,000

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