40. The following items are taken from the financial statements of Pelatihan OSN Company for the
year ending December 31, 2016:
Accounts payable 18,000
Accounts receivable 11,000
Accumulated depreciation – equipment 28,000
Advertising expense 21,000
Cash 15,000
Pelatihan OSN, Capital (1/1/16) 102,000
Pelatihan OSN, Drawing 14,000
Depreciation expense 12,000
Insurance expense 3,000
Note payable, due 6/30/17 70,000
Prepaid insurance (12-month policy) 6,000
Rent expense 17,000
Salaries expense 32,000
Service revenue 133,000
Supplies 4,000
Supplies expense 6,000
Equipment 210,000
What is the balance that would be reported for owner’s equity at December 31, 2016?
a. $102,000
b. $130,000
c. $144,000
d. $158,000