Problem
Bart's Burgers Incorporated provided the following partial information about its balance sheet:
Cash $100
Accounts Receivable $500
Stockholders' Equity $700
Accounts Payable $200
Bank Loans $1,000
Based on the information provided, how much are the company's liabilities?
Better Beer Brewing Inc. had beginning total stockholders' equity of $160,000. During the year, total assets increased by $240,000 and total liabilities increased by $120,000. The company's net income was $180,000. No additional investments were made; however, dividends were declared during the year. How much were the dividends?