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2. Assume XYZ Company's beginning and ending year 2016 assets were $80,000 and $120,000, respectively. Total liabilities were increased by $20,000.Net income was 90,000. How

2. Assume XYZ Company's beginning and ending year 2016 assets were $80,000 and $120,000, respectively. Total liabilities were increased by $20,000.Net income was 90,000.

  • How much were Assets changed in 2016?
  • How much was Stockholder's Equity changed in 2016?
  • Stockholder's Equity is increased by additional investment by owner and net income. It is decreased by dividends and net loss.Determine the amount of dividends in 2016.

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