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At the beginning of the year, Pronghorn Company had total assets of $787,000 and total liabilities of $526,000. Answer the following questions. Please note that
At the beginning of the year, Pronghorn Company had total assets of $787,000 and total liabilities of $526,000. Answer the following questions. Please note that the scenarios given below are independent. (a) If total assets increased $143,000 during the year and total liabilities decreased $65,000, what is the amount of stockholders' equity at the end of the year? Stockholders' equity (b) During the year, total liabilities increased $111,000 and stockholders' equity decreased $61,000. What is the amount of total assets at the end of the year? Total assets $ (c) If total assets decreased $74,000 and stockholders' equity increased $116,000 during the year, what is the amount of total liabilities at the end of the year?
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