I don’t understand this Accounting question and need help to study.
Suppose you are the owner of a small woodworking business that is privately incorporated. You currently own 100% of the business (equity valued at $100,000), with no long term debt. You are looking to purchase a new piece of equipment costing $10,000 that will require funds that you do not have available. How would you choose to finance the equipment? Explain the reasoning behind your decision. When responding to your peers make a counter argument to their reasoning and support it with at least 2 points.
Your document should be between 350-500 words, plus references.