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What was the change in total liabilities

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Standward Company's shareholders' equity section balance sheet at December 31, 2016 is shown below. Preferred shares Authorized-100 shares Issued and outstanding-55 shares $2,145. Common shares Authorized-900 shares Issued and outstanding-600 shares $1,010. Retained earnings $450. Total shareholders' equity $3,605.

If shareholders' equity increased $11,000 and assets decreased $5,000, what was the change in total liabilities?

Reference no: EM131561633

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