(solution) the beginning of the current fiscal year, the balance sheet for

(solution) the beginning of the current fiscal year, the balance sheet for

 the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $224,000. During the year, liabilities decreased by $12,600, assets increased by $45,500, and paid-in capital increased from $21,000 to $134,400. Dividends declared and paid during the year were $17,500. At the end of the year, stockholders? equity totaled $300,300.