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On January 1, Year 3, Wayfarer Co.'s assets were $355,000 and its stockholders' equity was $151,000. During the year, assets increased $20,500 and liabilities decreased

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On January 1, Year 3, Wayfarer Co.'s assets were $355,000 and its stockholders' equity was $151,000. During the year, assets increased $20,500 and liabilities decreased $21,000. Required: Determine the amount of stockholders' equity at December 31, Year 3. Stockholders' equity

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