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Please help me answer question B. At the beginning of the year, Ivanhoe Ltd. had total assets of $ 777,600 and total liabilities of $
Please help me answer question B.
At the beginning of the year, Ivanhoe Ltd. had total assets of $ 777,600 and total liabilities of $ 453,600. Use this information to answer each of the following independent questions. (a) Your answer is correct. If Ivanhoe's total assets increased by $ 270,000 during the year and total liabilities decreased by $ 86,400. what is the amount of shareholders' equity at the end of the year? Shareholders' equity 680400 e Textbook and Media Attempts: 2 of 3 used (b) * Your answer is incorrect. During the year, Ivanhoe's total liabilities decreased by $ 108,000. The company reported net income of $ 97,200, sold additional shares for $ 135,000, and did not declare any dividends during the year. What is the amount of total assets at the end of the year? Assets 579800 eTextbook and Media Save for Later Attempts: 2 of 3 used SubmitStep by Step Solution
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