Question
At the beginning of the year, Skysong, Inc. had total assets of $704,000 and total liabilities of $440,000. (Treat each item independently.) (a) If total
At the beginning of the year, Skysong, Inc. had total assets of $704,000 and total liabilities of $440,000. (Treat each item independently.) (a) If total assets increased $132,000 during the year and total liabilities decreased $70,400, what is the amount of stockholders equity at the end of the year?
Stockholders equity | $enter stockholders equity in dollars |
(b) During the year, total liabilities increased $88,000 and stockholders equity decreased $61,600. What is the amount of total assets at the end of the year?
Total assets | $enter total assets in dollars |
(c) If total assets decreased $70,400 and stockholders equity increased $96,800 during the year, what is the amount of total liabilities at the end of the year?
Total liabilities | $enter total liabilities in dollars |
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