JAMB Commerce 2003 Question 46

Use the information below to answer questions 46 and 47.
Balance Sheet as at 31st December, 2001
Liabilities (₦): Paid-up capital 200 000; Retained earnings 50 000; Creditors 50 000; Bills payable 50 000; Dividends payable 70 000; Total 420 000
Assets (₦): Building 50 000; Plant & Machinery 35 000; Fixtures 20 000; Debtors 50 000; Stocks 145 000; Bank 120 000; Total 420 000
What is the owners' equity?

1. A.₦250 000
2. B.₦300 000
3. C.₦420 000
4. D.₦200 000