Cardigan Ltd has total assets of $150 000 and liabilities that add up to $70 000 as at 30 June 2018.

1. What is Cardigan’s shareholders’ equity as at 30 June 2018?

2. During the year to 30 June 2019, Cardigan’s total assets increase by $63 000 while total liabilities increase by $25 000. What is the amount of Cardigan’s shareholders’ equity on 30 June 2019?

3. Now assume that in the year to 30 June 2019, Cardigan’s total liabilities increase by $20 000 and its shareholders’ equity decreases by $12 000. On 30 June 2019, what is the level of Cardigan’s total assets?

4. Assume that in the year to 30 June 2019, Cardigan’s total assets double while its shareholders’ equity remains unchanged. What are its total liabilities as at 30 June 2019?