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Accounting equation Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 31, 2012, Captivating Inc. has assets of $583,930
Accounting equation Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 31, 2012, Captivating Inc. has assets of $583,930 and liabilities of $184,520. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of May 31, 2012. b. Stockholders' equity as of May 31, 20Y3, assuming that assets increased by $92,260 and liabilities increased by $55,470 during 2013. c. Stockholders' equity as of May 31, 20Y3, assuming that assets decreased by $46,130 and liabilities increased by $16,350 during 2013. d. Stockholders' equity as of May 31, 20Y3, assuming that assets increased by $77,080 and liabilities decreased by $29,200 during 2013. e. Net income (or net loss) during 20Y3, assuming that as of May 31, 20Y3, assets were $735,750, liabilities were $119,710, and no additional common stock was issued or dividends paid
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