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At the beginning of the year, Arlo Corp. had total assets of $300,000 and equity of $220,000. During the year, assets increased by $90,000 and liabilities increased by $50,000. What is the equity at the end of the year?

At the beginning of the year, Arlo Corp. had total assets of $300,000 and equity of $220,000. During the year, assets increased by $90,000 and liabilities increased by $50,000. What is the equity at the end of the year?

Intermediate Financial Management (MindTap Course List)
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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At the beginning of the year, Arlo Corp. had total assets of $300,000 and equity of $220,000. During the year, assets increased by $90,000 and liabilities increased by $50,000. What is the equity at the end of the year?
Transcribed Image Text:At the beginning of the year, Arlo Corp. had total assets of $300,000 and equity of $220,000. During the year, assets increased by $90,000 and liabilities increased by $50,000. What is the equity at the end of the year?
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