» Given:

Authorized Capital: N
100,000 ordinary shares of N 1 eash
Issued and fully paid:
50,000 ordinary shares of N 1 each 50,000
10, 000 8% perference shares
of N 1 each
Reserves 10,000
Creditors 25,000
Debtors 13 000
Cash in hand 5000

Calculate the shareholders fund

• A.N 60,000
• B.N75,000
• C.N85,000
• D.N185,000
• E.