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At the beginning of the year, Morales Company had total assets of $817,000 and total liabilities of $565,000. (Treat each item independently.)

(a) If total assets increased $177,000 during the year and total liabilities decreased $85,000, what is the amount of stockholders’ equity at the end of the year?

(b) During the year, total liabilities increased $94,000 and stockholders’ equity decreased $79,000. What is the amount of total assets at the end of the year?

(c) If total assets decreased $81,000 and stockholders’ equity increased $108,000 during the year, what is the amount of total liabilities at the end of the year?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91975480

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