12/31/08
Assets: 90,090
Liability:?
Equity?

12/31/09
Assets:99360
Liability:78494
Equity: 20866

During 2009
Stock Issuance: 6500
Net Income: 7348
Cash Dividends: 11,000

Issuance of stock and having a net income increase your equity and cash dividends deducts your equity. To find the amount of the equity and liability for 12/31/08 you have to solve backwards.

Solve first for the beginning balance of the equity in 2009.

Equity, 12/31/09 20,866
Less: Stock Issuance 6,500
Net Income 7,348
Add: Cash Dividends 11,000
Equity, 1/01/09 18,018

The beginning balance of the equity during 2009 is the ending balance during 2008. Basic accounting equation states that total assets equals total liabilities plus equity. In the problem you have to squeeze the formula to get the amount of the total liabilities.

Liability 12/31/08 72,072

.. hope it helped. :)