Question: During the year, a firm reported a decrease in assets of $34,700. For the year, revenues were $196,700, expenses were $73,000, and dividends were $131,800.

During the year, a firm reported a decrease in assets of $34,700. For the year, revenues were $196,700, expenses were $73,000, and dividends were $131,800. During the year, $17,000 in common stock was issued. No other equity transactions occurred. What was the decrease in liabilities for the year? a. $25,800 b. $173,400 c. $26,600 d. $43,600 e. $86,200

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