E1-31B. (Learning Objective 3: Applying the accounting equation) Answer these questions about two companies. 1. Emerald Cruises began the year with total liabilities of 80,000 and total shareholders' eq- uity of 45,000. During the year, total assets increased by 25%. How much are total assets at the end of the year? 2. Starjet Airlines Ltd. began the year with total assets of 75,000 and total liabilities of 50,000. Net income for the year was 24,000, and dividends were 6,000. How much is shareholders' equity at the end of the year