Question - At the beginning of the year, Sielert Company had total assets of $865,370 and total liabilities of $287,900. Answer the following questions.
(a) If total assets increased $129,240 during the year and total liabilities decreased $67,520, what is the amount of owner's equity at the end of the year?
(b) During the year, total liabilities increased $102,940 and owner's equity decreased $54,260. What is the amount of total assets at the end of the year?
(c) If total assets decreased $67,590 and owner's equity increased $94,130 during the year, what is the amount of total liabilities at the end of the year?