52) The accounts of Odie Company with the increases or decreases that occurred during the past year are as follows: Decrease Increase $25,000 Account Cash..... Accounts receivable.. Accounts payable ........ Notes payable ... $(5,000) (11,000) ..16,000 Except for net income, an investment of $3,000 by stockholders, and a cash dividend of $11,000 to stockholders, no other items affected stockholders' equity. Using the balance sheet equation, compute net income for the past year. Answer: 53) If the liabilities of a company increased $92,000 during a period of time and equity in the business decreased $30,000 during the same period, did the assets of the company increase or decrease? By what amount