Accounting equation OBJ. 3, 4 Go44 is a motivational consulting business. At the end of its accounting period, December 31, 2015, Go44 has assets of $720,000 and liabilities of $180,000. Using the accounting equation and considering each case independently, determine the following amounts:

a. Stockholders’ equity as of December 31, 2015.

b. Stockholders’ equity as of December 31, 2016, assuming that assets increased by

$96,500 and liabilities increased by $30,000 during 2016.

c. Stockholders’ equity as of December 31, 2016, assuming that assets decreased by

$168,000 and liabilities increased by $15,000 during 2016.

d. Stockholders’ equity as of December 31, 2016, assuming that assets increased by

$175,000 and liabilities decreased by $18,000 during 2016.

e. Net income (or net loss) during 2016, assuming that as of December 31, 2016, assets were $880,000, liabilities were $220,000, and no additional common stock was issued or dividends paid.