Question: Use the accounting equation to answer each question below. 1. At the beginning of the year, Helena Companys assets were $90,000 and its stockholders equity

Use the accounting equation to answer each question below.

1. At the beginning of the year, Helena Company’s assets were $90,000 and its stockholders’ equity was $50,000. During the year, assets increased by $60,000 and liabilities increased by $10,000. What was the stockholders’ equity at the end of the year?

2. At the beginning of the year, Alfredo Company had liabilities of $100,000 and stockholders’ equity of $192,000. If assets increased by $80,000 and liabilities decreased by $60,000, what was the stockholders’ equity at the end of the year?

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