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On May 1, 2013, Padilla Inc

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On May 1, 2013, Padilla Inc. reported owner's equity of $136,000. During the month, Padilla generated revenues of $20,000 and incurred expenses of $12,000, purchased equipment worth $5,000, and withdrew cash of $2,000. What is the amount in owner's equity on May 31, 2013?

a. $136,000

b. $8,000

c. $137,000

d. $142,000