Answer these questions about two companies. 1. Emerald, Inc., began the year with total liabilities of $80,000

Question:

Answer these questions about two companies.
1. Emerald, Inc., began the year with total liabilities of $80,000 and total stockholders’ equity of $80,000. During the year, total assets increased by 25%. How much are total assets at the end of the year?
2. JetWestAirlines Ltd. began the year with total assets of $130,000 and total liabilities of $37,000. Net income for the year was $28,000, and dividends were zero. How much is stockholders’ equity at the end of the year?