• At the beginning of the year Zoolander Inc. had total assets of $429,000 and total equity of $183,000.
• By the end of the year Zoolander had total assets of $406,000 and total liabilities of $174,000.
• During the year the business had expenses of $372,000, revenues of $423,000, and new contributions by owners of $20,000.
• Solve for all the unknown numbers and answer the following questions.
• What was the company's ending equity?
• Question 2 options:
• What was the amount of dividends paid during the year?
• Question 3 options:
• What was the change in liabilities during the year?
• Question 4 options:
• What was the company's profit for the period?
• Question 5 options:
• What was the company's beginning total liabilities?