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Aroofa Deli had $94,000 of total assets and $10,000 of total shareholders equity at July 31, 2024. At July 31, 2025, Aroofa Deli had assets
Aroofa Deli had $94,000 of total assets and $10,000 of total shareholders equity at July 31, 2024. At July 31, 2025, Aroofa Deli had assets totalling $151,000 and shareholders equity totalling $112,000.After analyzing the data, answer the following questions:
What was the amount of the increase or decrease in liabilities in 2025?
Identify a possible reason for the change in liabilities during the year.
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