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Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2017, Inspirational has assets of $5,250,000 and
Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2017, Inspirational has assets of $5,250,000 and habilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of October 31, 2017. b. Stockholders' equity as of October 31, 2018, assum ng that assets creased by800,000 and liabil es increased by $330,000 dur ng 2018. . Stockholders equity as of October 31, 2018, assuming that assets decreased by $600,000 and liabilities increased by $140,000 during 2018. d. Stockholders' equity as of October 31, 2018, assuming that assets increased by $440,000 and liabilities decreased by $90,000 during 2018 e. Net income (or net loss) during 2018, assuming that as of October 31, 2018, assets were $6,140,000, liabilities were $1,950,000, and no additional common stock was issued or dividends paid. Net income v
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