6. Gino's Winery has net working capital of $29,800, net fixed assets of $64,800, current liabilities of $34,700, and long-term debt of $23,000. What is the value of the owners' equity?
The owners' equity can be calculated by subtracting the total liabilities from the total assets.
Total assets = Net working capital + Net fixed assets
Total assets = $29,800 + $64,800
Total assets = $94,600
Owners' equity = Total assets - Total liabilities
Owners' equity = $94,600 - ($34,700 + $23,000)
Owners' equity = $94,600 - $57,700
Owners' equity = $36,900
Therefore, the value of the owners' equity is $36,900.