Question Help Answer these questions about two companies 1. Sapphire Limited began the year with total liabilities of $170,000 and total shareholders' equity of $310,000. During the year. Totales increased by 22%. How much are total assets at the end of the year? 2. EastWest Associates began a year with total assets of $600,000 and total liabilities of $238.000 Net Income for the year was $90,000 and no dividend were paid How much is shareholders' equity at the end of the year? First compute Sapphire Companies Limited's total assets at the beginning of the year. The total assets at the beginning of the year for Sapphire Limited were $ 480,000 During the year the total assets increased by 22%. The total assets at the end of the year are $ 585,600 Requirement 2. EastWest Associates began a year with total assets of $600,000 and total liabilities of $238,000. Net Income for the year was $90,000 and no dividends were paid. How much is shareholders' equity at the end of the year? Compute EastWest Associates shareholders' equity at the beginning of the year. The shareholders' equity at the beginning of the year is su