Use the Following Information for Questions

question 142

Multiple Choice

Use the following information for questions
Saira's Service Shop started the year with total assets of $150,000 and total liabilities of $120,000.During the year, the business recorded $315,000 in revenues, $165,000 in expenses, and paid dividends of $30,000.
-Equity at the end of the year was

• A)$180,000.
• B)$150,000.
• C)$120,000.
• D)$135,000.

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Definitions:

Building Blocks

Fundamental components or essential parts that form the foundation of a structure, concept, or system.

Financial Statement Analysis

A method used to understand the financial health and operating performance of a business through the review of its financial statements, including balance sheets, income statements, and cash flow statements.