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Required information

Use the following information for the Quick Studies below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

On December $31,$ Hawkin's records show the following accounts.

$\backslash$table$[[$Cash$,$$$7,100$

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Required information

Use the following information for the Quick Studies below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

On December $31,$ Hawkin's records show the following accounts.

$\backslash$table$[[$Cash$,$$$7,100$

At the beginning of the year, Quaker Company's liabilities equal $$55,000.$ During$-$the year, assets increase by $$60,000,$ and at year$-$end assets equal $$190,000.$ Liabilities decrease $$17,000$ during the year. What are the beginning and ending amounts of equity?

$\backslash$table$[[,$Assets,$=,$Liabilities,$+,$Equity$],[$Beginning$,$$$,230,000,=,$$$,55,000,+,$$$,175,000],[$Change$,,60,000,=,,(17,000),+,,43,000],[$Ending$,$$$,190,000,=,$$$,43,000,+,$$$,147,000]]$