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Accounting equation Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 3 1 , 2 0 Y 2 ,

Accounting equation
Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 31,20Y2, Captivating Inc. has assets of $2,450,000 and liabilities of $1,180,000. Using the accounting equation and considering each case independently, determine the following amounts:
a. Stockholders equity as of May 31,20Y2.
fill in the blank 1 of 1$
1,270,000
b. Stockholders equity as of May 31,20Y3, assuming that assets increased by $825,000 and liabilities increased by $515,000 during 20Y3.
fill in the blank 1 of 1$
1,580,000
c. Stockholders equity as of May 31,20Y3, assuming that assets decreased by $375,000 and liabilities increased by $60,000 during 20Y3.
fill in the blank 1 of 1$
835,000
d. Stockholders equity as of May 31,20Y3, assuming that assets increased by $725,000 and liabilities decreased by $120,000 during 20Y3.
fill in the blank 1 of 1$
2,115,000
e. Net income (or net loss) during 20Y3, assuming that as of May 31,20Y3, assets were $3,300,000, liabilities were $1,400,000, and no additional common stock was issued or dividends paid.
Net income
fill in the blank 1 of 1$
630,000

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