Siskiyou, Inc. has total current assets of $1,200,000; total current l

Siskiyou, Inc. has total current assets of $1,200,000; total current liabilities of $500,000; long-term
assets of $800,000; and long-term debt of $600,000. How much is the firm’s total equity?

A) $1,200,000 B) $900,000 C) $800,000 D) $2,000,000

ANSWER

B