The Following Information Was Extracted from the Accounting Records of Plum

question 51

Multiple Choice

The following information was extracted from the accounting records of Plum Company: $$\begin{array} { l r } \text { Beginning Paid-In Capital } & \$ 87,000 \\\text { Beginning Retained Earnings } & \$ 211,000 \\\text { Beginning Assets } & \$ 455,000\end{array}$$ During the period assets increased by $150,000, revenues were $200,000, and expenses were $165,000.The owners made no additional investments. The amount of Plum Company's liabilities at the end of the period is _____.

• A)$157,000
• B)$272,000
• C)$150,000
• D)$ 45,000

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