At the beginning of the year a company had $128,000 of liabilities. During the year assets increased by $168,000 and at year-end the assets equaled $384000. Liabilities decreased $28,000 during the year. Calculate the beginning and ending values of equity.

1. Calculate the beginning assets:
\text{Beginning assets} = \text{Ending assets} - \text{Increase in assets}
\text{Beginning assets} = 384000 - 168000
\text{Beginning assets} = 216000

2. Use the accounting equation (Assets = Liabilities + Equity) to find beginning equity:
\text{Beginning equity} = \text{Beginning assets} - \text{Beginning liabilities}
\text{Beginning equity} = 216000 - 128000
\text{Beginning equity} = 88000

3. Calculate the ending liabilities:
\text{Ending liabilities} = \text{Beginning liabilities} - \text{Decrease in liabilities}
\text{Ending liabilities} = 128000 - 28000
\text{Ending liabilities} = 100000

4. Use the accounting equation to find ending equity:
\text{Ending equity} = \text{Ending assets} - \text{Ending liabilities}
\text{Ending equity} = 384000 - 100000
\text{Ending equity} = 284000

5. Final answers:
\text{Beginning equity} = 88000
\text{Ending equity} = 284000