1. Golden Enterprises started the year with the following: Assets $111,000; Liabilities $39,000; Common Stock $69.000: Retained Earnings $3,000. During the year, the company earned revenue of $5,900, all of which was received in cash, and incurred expenses of $3,450, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $1,900 to owners. Assume no other activities occu occurred during the year.

The amount of Golden's liabilities at the end of the year is:

2) Puffin Company began the year with assets of $118,000 and liabilities of $84,000. During the year assets increased by $15,600 and ljabilities decreased by $10,800.

What is the amount of Puffin's stockholders' equity at the beginning of the year?