# Blue Fin started the current year with assets of \$714,000, liabilities of \$357,000 and common stock of \$214,000.?

During the current year, assets increased by \$414,000, liabilities decreased by \$57,000 and common stock increased by \$289,000. There was no payment of dividends to owners during the year.

Use the information above to answer the following question. What was the amount of Blue Fin's change in total stockholders' equity during the year?

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• Don G
Lv 7
8 months ago
Favorite Answer

Assets minus Liabilities = Equity

Beg Bal - Assets 714 - Liab 357 = Equity of 357

End Bal - Assets 1,128 - Liab 300 = Equity of 828

Change in Equity - Increase of 471

The increase in Common Stock of 289 means Net Income for the year was 182.

• 8 months ago

Change in equity = Change in assets - Change in liabilities

Change in equity = 414000 + 57000 = 471,000

• Anonymous
8 months ago

I know, ask 43 more times rather than asking your instructor who is paid to teach you.

12 questions, each one asking strangers to do your homework. Lazy & dishonest.

i WILL find you and wash your mouth out with soap. You will end up in prison.

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