Margaret's Maid Service began the year with total assets of $133000 and stockholders' equity of $57000. During the year the company earned $92000 in net income and paid $28500 in dividends. Total assets at the end of the year were $229000. How much are total liabilities at the end of the year? A. $76000 B. $92000 C. $108500 D. $120500 Please explain how to solve this.

Margaret's Maid Service began the year with total assets of $133000 and stockholders' equity of $57000. During the year the company earned $92000 in net income and paid $28500 in dividends. Total assets at the end of the year were $229000. How much are total liabilities at the end of the year? A. $76000 B. $92000 C. $108500 D. $120500 Please explain how to solve this.

Name: Margaret's Maid Service began theyear with total assets of $133000 an
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Description: Margaret's Maid Service began theyear with total assets of $133000 andstockholders' equity of $57000. Duringthe year the company earned $92000in net income and paid $28500 individends. Total assets at the end ofthe year were $229000. How muchare tot

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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