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Management discussion and analysis8.A section of the annual report that presents management’s views.Assets9.Future economic benefits.Investing activities10.Involves acquiring the resources necessary to run the business.
Ex. 4At the beginning of the year, Gant Company had total assets of $660,000 and total liabilities of$300,000. Answer the following questions viewing each situation as being independent of theothers.(1)If total assets increased $225,000 during the year, and total liabilities decreased $100,000,what is the amount of stockholders’ equity at the end of the year?(2)During the year, total liabilities increased $215,000 and stockholders’ equity decreased$130,000. What is the amount of total assets at the end of the year?(3)If total assets decreased $60,000 and stockholders’ equity increased $150,000 during theyear, what is the amount of total liabilities at the end of the year?