Accounting Equation Pauline Emm is the owner and operator of Power Thoughts, a motivational consulting business. At the end of its accounting period, December 31, 20Y8, Power Thoughts has assets of $382,000 and liabilities of $94,000. Using the accounting equation, determine the following amounts: a. Owner's equity as of December 31, 20Y8. b. Owner's equity as of December 31, 20Y9, assuming that assets decreased by $63,000 and liabilities increased by $35,000 during 2009.

Accounting teuation Pauline Emm is the owner and operater of Power Thevghts, a motivational consulting busineik. A the end of ats accourting period, December 31, 20rg, Poner Thoughts has assets of $382,000 and liabilies of 594,000 . Usiog the acceuetiog equation, determine the fofiowing amounts: a. Owner's equity as of December 31 , 20re. b. Owner's equity as of December 31, 20r9, asuming that abets decreased by 563,000 and iabiriet increaied by 535,000 dunho 20ra