Beginning asset = $255,383
Beginning stockholders' equity = $120,000
Beginning liabilities = Beginning asset - Beginning stockholders' equity
= 255,383 - 120,000
= $135,383
Increase in liabilities = $22,822
Ending liabilities = Beginning liabilities + Increase in liabilities
= 135,383 + 22,822
= $158,205
Ending stockholders' equity = Beginning stockholders' equity + Net income - Dividends
= 120,000 + 53,245 - 11,390
= $161,855
Ending assets = Ending liabilities + Ending stockholders' equity
= 158,205 + 161,855
= $320,060
Correct option is (c)
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