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Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, December 31, 2017, Inspirational has assets of $802,770 and
Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, December 31, 2017, Inspirational has assets of $802,770 and liabilities of $253,680. 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 $126,840 and liabilities increased by $76,260 during 2018. C. Stockholders' equity as of December 31, 2018, assuming that assets decreased by $63,420 and liabilities increased by $22,480 during 2018. d. Stockholders' equity as of December 31, 2018, assuming that assets Increased by $105,970 and liabilities decreased by $40,140 during 2018, e. Net income (or net loss) during 2018, assuming that as of December 31, 2018, assets were $1,011,490, liabilities were $164,570, and no additional capital stock was issued or dividends pald. 01000
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