Business increased - $99,000
Business decreased - $42,000
$99,000 - $42,000 = $57,000 increased
A company's liabilities are its obligations to its creditors and other parties. According to the maturity time, liabilities are classified as current and long-term on the balance sheet. A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied.
Equity, also known as shareholders' equity or owners' equity for privately held businesses, is the sum of money that would remain in the hands of a company's shareholders in the event that all of its assets were sold off and its liabilities were fully settled. It is the worth of company sales less any obligations owing by the company that were not transferred with the sale in the case of an acquisition. One of the most frequently used pieces of information by analysts to evaluate a company's financial health is equity, which can be found on a company's balance sheet.
To learn more about liability equity from the given link.
https://brainly.com/question/27264111
#SPJ4
