Answer:
Year end stockholders' equity is $ 1.896
Explanation:
To determine the year end equity balances we need to find the opening balances of each of the components.
Assets = Liabilities + Stockholders' equity
The opening balances are:
$ 2,728 = Liabilities + $ 1,672
By solving the equation we determine the Opening Liabilities to be $ 1,056
Next stage is computing the ending balances of assets and liabilities
Year end assets = Opening assets + increase in assets
$ 2,728 + $ 148 = $ 2,876
Year end Liabilities = Opening Liabilities - decrease in liabilities
$ 1,056 - $ 76 = $ 980
Year end Equity = Year end assets - year end liabilities
$ 2,876 - $ 980 = $ 1,896
