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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 $645,920 and liabilities of $204,110. Using the accounting equation and
considering each case independently, determine the following amounts:
a. Stockholders' equity as of May 31,20 Y 2.
$
b. Stockholders' equity as of May 31,20Y3, assuming that assets increased by $102,060 and liabilities
increased by $61,360 during 20Y3.
c. Stockholders' equity as of May 31,20Y3, assuming that assets decreased by $51,030 and liabilities
increased by $18,090 during 20Y3.
$
d. Stockholders' equity as of May 31,20Y3, assuming that assets increased by $85,260 and liabilities
decreased by $32,300 during 20Y3.
$
e. Net income (or net loss) during 20Y3, assuming that as of May 31,20Y3, assets were $813,860, liabilities
were $132,410, and no additional common stock was issued or dividends paid.
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