At the beginning of the year, Gonzales Company SLU had total assets of 870,000

and total liabilities of 500,000. Answer the following questions.

(a) If total assets increased 150,000 during the year and total liabilities decreased

80,000, what is the amount of equity at the end of the year?

(b) During the year, total liabilities increased 100,000 and equity decreased 55,000.

What is the amount of total assets at the end of the year?

(c) If total assets decreased 80,000 and equity increased 120,000 during the year, what

is the amount of total liabilities at the end of the year?