- 33. At the beginning of June, assets totaled $45,600 and liabilities totaled $16.500. During the year, the company earned net income of $15,000, and its assets increased by $7.000. Stockholders' equity increased by $3,200. How much are total liabilities at the end of June? $20,300 $29,100 $5,300 d. None of the answer choices are correct