Standward Company’s shareholders’ equity section balance sheet at December 31, 2016 is shown below. Preferred shares Authorized—100 shares Issued and outstanding—55 shares $2,145
Standward Company’s shareholders’ equity section balance sheet at December
31, 2016 is shown below. Preferred shares Authorized—100 shares Issued and outstanding—55 shares $2,145. Common shares Authorized—900 shares Issued and outstanding—600 shares $1,010. Retained earnings $450. Total shareholders’ equity $3,605.
2. If shareholders’ equity increased $11,000 and assets decreased $5,000, what was the change in total liabilities?
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