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Suppose Howard Corporation has accounts receivable of $23,000, furniture totaling 108,000, and cash of $68,000.....

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Accounting

Suppose Howard Corporation has accounts receivable of $23,000, furniture totaling 108,000, and cash of $68,000.. Business has a $94,000 note payable and owes $52,000 on account. how much is Howard's owner's equity?

The answer to this question is $53,000. Please show step by step how to reach this answer. Thank you!

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DIRECT MATERIAL =10000 DIRECT LABOR=3000 FACTORY OVERHEAD=40000 WIP BEG=2000 WIP END =0 COGM=?