On January 1, 20X6, total assets for Liftoff Technologies were $125,000; on December 31, 20X6, total assets were $145,000. On January 1, 20X6, total liabilities were $110,000; on December 31, 20X6, total liabilities were $115,000. What is the amount of the change and the direction of the change in Liftoff Technologies' shareholders’ equity for 20X6? A) Decrease of $15,000 B) Increase of $15,000 C) Increase of $30,000 D) Decrease of $30,000 Answer: B