ABC Construction, Inc., has buildings and equipment of $315,600, long-term debt of $154,700, accounts payable of $52,000, cash of $9,800, accounts receivable of $18,300, inventory of $62,000, and retained earnings of $147,000. What is the total equity of the firm

199,700

Explanation:

Equity= Assets- liabilities

Assests= 315,600+9800+18300+62000

= 405,700

Liabilities= 154,000+52,000

= 206,000

Equity= 405,700-206,000

= 199,700

The concept of social responsibility as used in management science is that businesses should maximise their profits subject to their working in a socially responsible manner to promote the interests of the society. Their business activities should not harm other groups such as consumers, workers, and public at large.

Explanation: