Accounting Equation Determine the missing amount for each of the following: Assets Liabilities + Stockholders' Equity a. $199,800 + $624,360 b. $99,900 $31,220 c. $48,080 $6,870 + + Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2012, Inspirational has assets of $561,180 and liabilities of $177,330. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of October 31, 2012 b. Stockholders' equity as of October 31, 2043, assuming that assets increased by $88,670 and liabilities increased by $53,310 during 2073. Stockholders' equity as of October 31, 2043, assuming that assets decreased by 544,330 and liabilities increased by $15,710 during 2073. d. Stockholders' equity as of October 31, 2083, assuming that assets increased by $74,080 and liabilities decreased by $28,060 during 2013. e. Net income (or net loss) during 2043, assuming that as of October 31, 2013, assets were $707,090, liabilities were $115,040, and no additional common stock was issued or dividends paid. Effect of Transactions on Accounting Equation a. A vacant lot acquired for $521,500 is sold for $1,006,500 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select 'No change from the dropdown and then enter a "o" in the amount box Effect Amount 1. Total Assets 2. Total Liabilities 3. Stockholders' Equity b. Assume that the seller owes $146,000 on a loan for the land. After receiving the $1,006,500 cash in (a), the seller pays the $146,000 owed. What is the effect of the payment on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select "No change from the dropdown and then enter a 'o' in the amount box. Consider only the payoff of the loan, without considering the sale of the land. Effect Amount 1. Total Assets 2. Total Liabilities 3. Stockholders' Equity Is it true that a transaction always affects at least two elements (Assets, Liabilities, or Stockholders' Equity) of the accounting equation