A company began the year with assets of $119,000, liabilities of $29,500, and stockholders' equity of $89,500. During the year assets increased $56,900 and stockholders' equity increased $23,800. What was the change in liabilities for the year?
A. Decrease of $80,700
B. Decrease of $33,100
C. Increase of $80,700
D. Increase of $33,100
Answer: D
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