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Question(s) / Instruction(s):

A company had total equity of $89,000 on January 1, 2008. The following information is available for the year ended December 31, 2008:

2008 Revenues………………….   ……… $350,000

2008 Expenses …………………   ………. 403,000

Liabilities, at December 31, 2008…………. 27,000

  
What are the total assets of the company at December 31, 2008?

$36,000

$63,000

$53,000

$27,000

$350,000

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