Use the accounting equation to answer each question below.

1. At the beginning of the year, Lanier Company's assets were $180,000, and its stockholders' equity was $100,000. During the year, assets increased by $60,000 and liabilities increased by $10,000. What was the stockholders' equity at the end of the year?

2. At the beginning of the year, Fanto Company had liabilities of $50,000 and stock- holders' equity of $48,000. If assets increased by $20,000 and liabilities decreased by $15,000, what was the stockholders' equity at the end of the year? SE