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At the end of the fiscal year of 2019, Howdy Construction Co., Inc. has the...

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Accounting

  1. At the end of the fiscal year of 2019, Howdy Construction Co., Inc. has the following financial profile (all figures are in dollars):

Total Assets: $1,550,000

Total Liabilities: $960,000

Total revenue: $365,200

Total expenses: $287,250

  1. What is the total equity of the company?
  2. What is the net income after taxes? (Assume a 25% tax rate)
  3. Did the equity increase, decrease or remain the same compared to FY 2018? Why?

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