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By how much did owners equity increase or decrease

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Question - Please explain the following and calculation. If during the year total assets increase by $70,000 and total liabilities decrease by $13,500, by how much did owner's equity increase/decrease?

a. 70,000 increase

b. 83,500 decrease

c. 83,500 increase

d. 56,500 decrease.

Reference no: EM132425745

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