Formula: Add, Subtract, Multiply; Cell Referencing BE1.6 Using Excel to Determine Accounting Equation Amounts PROBLEM At the beginning of the year, Xul Ltd. had the following amounts on its statement of financial position. Use this information to answer each of the following independent questions. 1 Beginning of year, total assets Beginning of year, total liabilities 2. B 4. 5 5. 7 B 9 $720,000 420,000 Student Work Area Required: Provide input into cells shaded in yellow in this template. Use mathematical formulas with cell references to the Problem and work area as indicated. a. Xul's total assets increased during the year and total liabilities decreased in the following amounts. Increase in assets Decrease in liabilities $ 250,000 80,000 What is the amount of shareholders' equity at the end of the year? 1 2 B 4 5 5. 7 B 9 . 1 2 B 4 5. 5 Shareholders' equity, beginning of year Shareholders' equity, end of year b. During the year, Xul's total liabilities decreased. The company reported net income, sold additional shares, and did not declare any dividends during the year. Decrease in liabilities Net income Issuance of shares $ 100,000 90,000 125,000 What is the amount of total assets at the end of the year? Shareholders' equity, end of year Total liabilities, end of year Total assets, end of year