4. The Williams Model Aircraft Repair Shop started the year with total assets of $280,000, total liabilities of $220,000, and retained earnings of $55,000. During the year, the business recorded $350,000 in repair revenues, $110,000 in expenses, and the company paid dividends of $45,000 5. The accounting equation for Mickey Enterprises is as follows: Assets $460,000 Liabilities $280,000 Stockholders' Equity $180,000 If the company now purchases a truck on account for $30,000, the accounting equation will change to: Assets Liabilities Stockholders' Equity 6. The accounting equation for Minnie Enterprises is as follows: Assets $2,080,000 Llabilities $540,000 Stockholders' Equity $1540,000 If the company now purchases a truck on account for $90,000, the accounting equation will change to: Llabilities Stockholders' Equity