At the beginning of the year, Lamson Company had total assets of $700,000 and total liabilities of $500,000. Answer the following questions:

1. If total assets increased $150,000 during the year and total liabilities decreased $80,000, what is the amount of stockholders’ equity at the end of the year?

2. During the year, total liabilities increased $100,000 and stockholders’ equity decreased

$70,000. What is the amount of total assets at the end of the year?

3. If total assets decreased $90,000 and stockholders’ equity increased $110,000 during the year, what is the amount of total liabilities at the end of the year?