Multiple Choice
On January 1, 2010, total assets for Liftoff Technologies were $125,000; on December 31, 2010, total assets were $145,000. On January 1, 2010, total liabilities were $110,000; on December 31, 2010, total liabilities were $115,000. What is the amount of the change and the direction of the change in Liftoff Technologies' stockholders' equity for 2010?
A) Decrease of $15,000.
B) Increase of $15,000.
C) Increase of $30,000.
D) Decrease of $30,000.
Correct Answer:
Verified
Correct Answer:
Verified
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