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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 $720,380
Accounting equation Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 31, 2012, Captivating Inc. has assets of $720,380 and liabilities of $227,640. 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, 2013, assuming that assets increased by $113,820 and liabilities increased by $68,440 during 2013. c. Stockholders' equity as of May 31, 2013, assuming that assets decreased by $56,910 and liabilities increased by $20,170 during 2013. d. Stockholders' equity as of May 31, 2013, assuming that assets increased by $95,090 and liabilities decreased by $36,020 during 2013. e. Net income (or net loss) during 2013, assuming that as of May 31, 2013, assets were $907,680, liabilities were $147,680, and no additional common stock was issued or dividends paid
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