JAMB Commerce 2007 Question 49

Balance Sheet of XYZ as at 31/12/2003
Ordinary share capital ₦25 000 000 | Fixed assets ₦26 000 000
Revenue reserve ₦10 000 000 | Investment ₦22 000 000
General reserve ₦3 000 000 | Current assets ₦5 000 000
Long-term liabilities ₦4 000 000
Current liabilities ₦11 000 000
Total ₦53 000 000 | Total ₦53 000 000
Determine the owners' equity

1. A.₦38 000 000
2. B.₦20 000 000
3. C.₦42 000 000
4. D.₦25 000 000