Herald Angel Agency started the year with total assets of $150,000 and total liabilities of $25,000. Stockholders made additional investments of $10,000 and the company paid dividends of $50,000 During the year the business recorded $120,000 in catering revenues and $20,000 in expenses. during the year. 43. 44. The net income reported by Herald Angel Agency for the year was a. $8,000 b. $50,000 c. $100,000 d. $125,000 Stockholders' equity changed by what amount from the beginning of the year to the end of the year? a. $6,000 b. $60,000 c. $70,000 d. $125,000