2 problems. Thank you:)

5. At the beginning of the year, Southside Company assets were $590,000 and Stockholders' Equity was $275,000. During the year, Assets increased $75,000 and Liabilities decreased $40,000. What was Stockholders' Equity at the end of the year. 6. The lower-of-cost-or-market rule for inventory is an example of the application of what accounting rule or convention