Jimmy’s Repair Shop started the year with total assets of $150,000 and total liabilities of

Jimmy’s Repair Shop started the year with total assets of $150,000 and total liabilities of $120,000. During the year the business recorded $315,000 in revenues, $165,000 in expenses, and dividends of $30,000. Stockholders’ equity at the end of the year was

$150,000.

 

$120,000.

 

$180,000.

 

$135,000.

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