JAMB Principles of Accounts 1999 Question 40

Use the information below to answer questions 39 and 40.
Zoom Plc balance sheet [extract] as at 31st December, 1997
Liabilities (₦): Paid-up capital 200,000; Share premium 15,000; Profit & loss a/c 60,000; Long-term loan 180,000; Creditors 200,000; Other current liabilities 100,000; Total 755,000
Assets (₦): Fixed assets 300,000; Investments 180,000; Stock 28,000; Debtors 90,000 less Provision (3,000) 87,000; Cash 60,000; Bank 100,000; Total 755,000
Determine the owners' equity

1. A.₦200,000
2. B.₦215,000
3. C.₦275,000
4. D.₦755,000.