Before closing entries were recorded at the end of the accounting period (December 31, 2005), the following data were taken from the accounts of Buynow Corporation:
The total amount of owners' equity that should be reported on the balance sheet dated December 31, 2005, after all the closing entries, is:
a) $ 338,000.
b) $128,000.
c) $300,000.
d) $304,000.