Accounting equation

Captivating Inc. is a motivational consulting business. The data for the assests and liabilities of Captivating Inc. at the end of its accounting period, May $31,20Y2,$ are provided in the table below. Columns B and D indicate the increase $($Inc$)$ or decrease $($Dec$)$ in assets and liabilities from May $31,20$ Y $2.$

DATA

Accounting Period Ended May $31,20$Y$2$

Assets

$$7,000,000$

Liabilities

$2,950,000$

REQUIRED:

Calculate the corresponding amount for each of the cases below. Consider each case independently.

Using formulas and cell references, perform the required analysis. Formulas entered in the green cells show in the orange cells. Transfer amounts to CNOWv$2$ for grading.

$\backslash$table$[[$Liabilities$],[,,,,$A$.$ Stockholders' equity as of May $31,20$Y$2,,$Amount$],[,,,,,,],[$$$550,000,$Inc,$$400,000,$Inc,B$.$ Stockholders' equity as of May $31,20$Y$3,,],[$$$600,000,$Dec,$$100,000,$Inc,C$.$ Stockholders' equity as of May $31,20$Y$3,,],[$$$400,000,$Inc,$$50,000,$Dec,D$.$ Stockholders' equity as of May $31,20$Y$3,,],[$$$7,050,000,,$$$2,500,000,,$E$.$ Net income $($or net loss$)$ during $20$Y$3,,]]$