Question: Please explain the solution to this general accounting problem using the correct accounting principles. Reed Enterprises started the year with assets of $180,000 and equity

Please explain the solution to this general accounting problem using the correct accounting principles.

Reed Enterprises started the year with assets of $180,000 and equity of $135,000. During the year, assets increased by $40,000, and liabilities increased by $25,000. What is the ending equity for Reed Enterprises

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