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Part $1$

Collision Auto ShopCollision$$Auto$$Shop

started

$20252025$

with total assets of

$ $19$ comma $000$$$19,000$

and total liabilities of

$ $9$ comma $000$$$9,000.$

At the end of

$20252025,$

Collision Auto ShopCollision$$Auto$$Shop$\text{'}$

s total assets stood at

$ $27$ comma $000$$$27,000$

and total liabilities were

$ $13$ comma $000$$$13,000.$

Requirements

$1.$Did the$$ owner's equity of

Collision Auto ShopCollision$$Auto$$Shop

increase or decrease during

$20252025?$

By how$$ much?

$2.$Identify the four possible reasons that$$ owner's equity can change.

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Part $1$

Requirement $1.$ Did the$$ owner's equity of

Collision Auto ShopCollision$$Auto$$Shop

increase or decrease during

$20252025?$

By how$$ much? $($Enter a decrease with a minus sign or$$ parentheses.$)$

The change in owner's equity during the year is

$$4,000$

Part $2$

Requirement $2.$ Identify the four possible reasons that$$ owner's equity can change.

$$Owner$\text{'}$s equity can increase$$ through:

owner contributions

$$and$/$or

owner withdrawals

$.$

$$Owner$\text{'}$s equity can decrease through

paying a liability

$$and$/$or

net income

$.$