Sunlight, Inc $$\begin{array} { l l } \text { Assets } & \$ 60,600 \\\text { Liabilities } & \$ 27,500\end{array}$$

question 52

Multiple Choice

Sunlight, Inc.had the following assets and liabilities as of September 30, 2016 $$\begin{array} { l l } \text { Assets } & \$ 60,600 \\\text { Liabilities } & \$ 27,500\end{array}$$ If assets increased by $4,350 and equity increased by $2,900 during October, what is the increase or decrease in liabilities of Sunlight as of October 31, 2016?

• A) ($1,450)
• B) $1,450
• C) $7,250
• D) ($7,250)

---

Definitions:

Price Elasticity

An economic metric indicating the responsiveness of the demand for a product or service to variations in its price.

Peck

A unit of volume for dry goods, historically used in agriculture and equal to about 8.809 or 9 liters in the US and UK respectively.

Bushel

A unit of volume that is used for measuring agricultural commodities, varying in actual volume by the product being measured.

Consumption

The use of goods and services by households or individuals for personal satisfaction or to fulfill needs.