As of January 1, 2016, a corporation had assets of $340,000 and liabilities of $120,000. During 2016, assets increased $45,000 and liabilities increased $15,000.
Required:
Calculate stockholders' equity at December 31, 2016.

Question

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The Answer of As of January 1, 2016, a corporation had assets of $340,000 and liabilities of $120,000. During 2016, assets increased $45,000 and liabilities increased $15,000.
Required:
Calculate stockholders' equity at December 31, 2016.

As of January 1, 2016, a Corporation Had Assets of $340,000