Question - 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?
$136,000
$8,000
$137,000
$142,000