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A company recorded $400,000 in revenues, $200,000 in expenses, and $45,000 of dividends for the year. The company began the year with Total Assets of
A company recorded $400,000 in revenues, $200,000 in expenses, and $45,000 of dividends for the year. The company began the year with Total Assets of $285,000 and Stockholders' Equity of $130,500. Suppose that liabilities increased by $50,000. By how much did Total Assets increase during the year
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