At the beginning of the year, Anderson Manufacturing has assets of $190,000 and equity of $140,500. During the year, assets increase by $85,000 and liabilities increase by $60,000. What is the equity at the end of the year?

At the beginning of the year, Anderson Manufacturing has assets of $190,000 and equity of $140,500. During the year, assets increase by $85,000 and liabilities increase by $60,000. What is the equity at the end of the year?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 12P: The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of...

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Question

What Is the equity at the end of the year?

At the beginning of the year, Anderson
Manufacturing has assets of $190,000 and
equity of $140,500. During the year,
assets increase by $85,000 and liabilities
increase by $60,000.
What is the equity at the end of the
year?

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