Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, December 31, 2017, Inspirational has assets of $591,990 and abilities of $187,070. Using the accounting equation and considering each case independently, determine the following amounts a. Stockholders' equity as of December 31, 2017. b. Stockholders' equity as of December 31, 2018, assuming that assets Increased by $93,530 and liabilities increased by $56,240 during 2018. c. Stockholders' equity as of December 31, 2018, assuming that assets decreased by $46,770 and liabilities increased by $16,580 during 2018. d. Stockholders' equity as of December 31, 2018, assuming that assets increased by $78,140 and liabilities decreased by $29,600 during 2018. e. Net income (or net loss) during 2018, assuming that as of December 31, 2018, assets were $745,910, liabilities were $121,360, and no additional capital stock was issued or dividends paid. 00000 Previous Next