How does the income statement articulate with the balance sheet? The income statement shows the year-to-year change in the capital stock balance. The income statement shows the year-to-year change in the dividend balance. The income statement shows the year-to-year change in the cash balance. The income statement shows the year-to-year change in the retained earnings balance. On January 1, a company had total assets of $400,000, total liabilities of $300,000, and total equity of $100,000. On January 1 , the company entered into the following three transactions: - Purchasing goods for resale: Total cost of this inventory was $90,000. The company paid $30,000 cash and the remainder was put on the company's credit accounts with its suppliers. - Selling land for cash: The original cost of the land was $80,000. The land was sold for $32,000. - Paying a portion of the amount owed to suppliers on account: The company paid $25,000 cash to suppliers to partially pay the amount owed to suppliers. This is because of past inventory purchases. After these three transactions, what is this company's total liabilities? $287,000$335,000$365,000$383,000