BE1.7 (LO 4) (Use accounting equation.) At the beginning of the year, Xul Ltd. had total assets of $720,000 and total liabilities of $420,000. Use this information to answer each of the following independent questions. a. If Xul's total assets increased by $250,000 during the year and total liabilities decreased by $80,000, what is the amount of shareholders' equity at the end of the year? b. During the year, Xul's total liabilities decreased by $100,000. The company reported net income of $90,000, sold additional shares for $125,000, and did not declare any dividends during the year. What is the amount of total assets at the end of the year? c. If Xul's total assets decreased by $90,000 during the year and shareholders' equity increased by $120,000, what is the amount of total liabilities at the end of the year