At the beginning of a recent year JetBlue Airways Corporatio

At the beginning of a recent year, JetBlue Airways Corporation\'s assets were $7,070 million and its equity was $1,888 million. During the year, assets increased $280 million and liabilities increased $34 million. What was its equity at the end of the year?

Solution

Beginning liabilities = 7070 -1888 = 5182 Ending assets = 7070+280 = 7350 Ending liabilities = 5182+34 = 5216 Ending equity = 7350-5216 = $2134