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During the year, Blossom's total liabilities decreased by $124,000. The company reported net income of...

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Accounting

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During the year, Blossom's total liabilities decreased by $124,000. The company reported net income of $111,600, sold additional shares for $155,000, and did not declare any dividends during the year. What is the amount of total assets at the end of the year? Assets At the beginning of the year, Blossom Ltd, had total assets of $892,800 and total liabilities of $520,800. Use this information to answer each of the following independent questions. (a) Your answer is correct. If Biessom's total assets increased by $310,000 during the year and totalliabilities decreased by $99,200, what is the amount of shareholders' equity at the end of the year? Shareholders' equity

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