Goldman Corporation provided you with the following information for the month of January 2021:

Total assets on 1st January 2021	$230,000
Total liabilities on 1st January 2021	$120,000
Total cash inflows for the month of January 2021	$85,000
Total assets on 31st January 2021	$250,000
Total revenues for the month of January 2021	$130,000
Total expenses for the month of January 2021	$90,000
Total cash at bank on 31st January 2021	$77,500
The owners contributed additional $30,000 capital to the business on 9th January 2021.
The owners took home some office supplies worth $1,000 for personal use on 26th January 2021.

Required:

Calculate Goldman Corporations TOTAL OWNERS EQUITY on 31^st January 2021.

(3 marks)

Answer here:

Has Goldman Corporations TOTAL LIABILITIES increased or decreased and by how much, from 1^st January 2021 to 31^st January 2021?

(1 mark)

Answer here: