QUESTIONO Ending assets for CompulHelp equal 650,000 and the beginning retained earnings account was 325,000. If net income during the period was 225,000 and dividends were 150,000 what were ending liabilities? ANSW ER 175,000 250,000 400,000 25,000 IDONTKNOWYET

Here's how to solve this accounting problem:<br /><br />1. **Calculate the ending balance of Retained Earnings:**<br /><br /> Beginning Retained Earnings + Net Income - Dividends = Ending Retained Earnings<br /><br /> $325,000 + $225,000 - $150,000 = $400,000<br /><br />2. **Use the Accounting Equation:**<br /><br /> Assets = Liabilities + Equity<br /><br /> We know that Ending Assets are $650,000 and Equity (in this simplified case) is represented by Retained Earnings.<br /><br />3. **Solve for Liabilities:**<br /><br /> Liabilities = Assets - Equity (Retained Earnings)<br /><br /> Liabilities = $650,000 - $400,000<br /><br /> Liabilities = $250,000<br /><br />Therefore, the correct answer is $\boxed{\$250,000}$.<br />