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Included in the balance sheet of J Ltd. on December 31,2017 were total assets of...

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Accounting

Included in the balance sheet of J Ltd. on December 31,2017 were total assets of $100,000 and total shareholders' equity of $65,000. During 2018 assets increased by $35,000 and the company reported net earnings of $15,000. Also during 2018 the company issued $3,000 of new shares, anddeclared dividends of $3,000. Which of the following statements is true?
(a) Liabilities increased by $20,000 during 2018.
(b) Liabilities increased by $35,000 during 2018.
(c) Liabilities increased by $55,000 during 2018.
(d) Liabilities increased by $29,000 during 2018.
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