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Beginning and ending balances for the year are as shown: Begin End Assets $200,000 $285,000 Liabilities 100,000 The net income for the year was $30,000,
Beginning and ending balances for the year are as shown: Begin End Assets $200,000 $285,000 Liabilities 100,000 The net income for the year was $30,000, dividends of $10,000 were declared and $5,000 of dividends were paid. The stockholders contributed $65,000 during the year. The total liabilities at the end of the year were:
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