Question 1 The following two parts are independent of one another. a) At the beginning of the year. Villa Company had total assets of $813,000 and total stockholders' equity of $657,000. Total assets increased $80,000 during the year and liabilities increased $110,000. Total Equity at the end of the year was: b) Lokeman's Car Repair Shop started the year with total assets of $300,000, total liabilities of $70,000, and retained earnings of $197,000. During the year, the business recorded $120,000 in car repair revenues, $73,000 in expenses, and the company paid dividends of $15,000. The investors did not make any additional investments during the year. Total Stockholders' equity reported by Lokeman's Car Repair Shop for the year was