Question: Can you help me solve this general accounting question using the correct accounting procedures? Toys Ltd had total assets of $60,000 and total liabilities of

Can you help me solve this general accounting question using the correct accounting procedures?

Toys Ltd had total assets of $60,000 and total liabilities of $40,000 at the beginning of the year. During the year the business recorded $100,000 in revenues, $55,000 in expenses, and dividends of $10,000 were distributed. Equity at the end of the year is: a) $45,000 b) $35,000 c) $65,000 d) $55,000

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