Answer these questions about two companies: 1. Onyx Limited began the year with total liabilities of $190,000 and total shareholders' equity of $330,000. During the year, total assets increased by 16%. How much are total assets at the end of the year? 2. ArticAir Associates began a year with total assets of $625,000 and total liabilities of $230,000. Net income for the year was $115,000 and no dividends were paid. How much is shareholders' equity at the end of the year? Requirement 1. Onyx Limited began the year with total liabilities of $190,000 and total shareholders' equity of $330,000. During the year, total assets increased by 16%. How much are total assets at the end of the year? First compute Onyx Companies Limited's total assets at the beginning of the year. The total assets at the beginning of the year for Onyx Limited were $ During the year the total assets increased by 16%. The total assets at the end of the year are $. *** Requirement 2. ArticAir Associates began a year with total assets of $625,000 and total liabilities of $230,000. Net income for the year was $115,000 and no dividends were paid. How much is shareholders' equity at the end of the year? Compute ArticAir Associates shareholders' equity at the beginning of the year. The shareholders' equity at the beginning of the year is $. At the end of the year, the company has a net income of $115,000 The shareholders' equity at the end of the year is $ 4

Anewer there quistions about two companies the rear? the end of the your? of the year? First compule Onyx Corsanies timieds sotal assets at the begining of the year. The fotal assets at the beginno of the yoar for Onyx Limited wore: Duing the year the botal assets increased by 16%. The latal assets at the end of the year ares equity at the end of the yoar? Compute ArteAir Associates shareholders' equey at the begining of the yeur. The shareholders' equity at tho beginning of the year is? At the and of the year, the conpany has a net hoome of $115,000 The shareholders' equity at the end of the yoar is