Accounting Equation Penny Lyman is the owner and operator of Go109, a motivational consulting business. At the end of its accounting period, December 31, 2041, Go109 has assets of $659,000 and liabilities of $165,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Penny Lyman, capital, as of December 31, 2011. $ 494,000 b. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $88,000 and liabilities increased by $27,000 during 20Y2. $ 555,000 c. Penny Lyman, capital, as of December 31, 2012, assuming that assets decreased by $151,000 and liabilities increased by $13,000 during 2042. $ d. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $152,000 and liabilities decreased by $16,000 during 2072. $ e. Net income (or net loss) during 2042, assuming that as of December 31, 20Y2, assets were $782,000, liabilities were $196,000, and there were no additional investments or withdrawals. Feedback Check My Work If you know two figures for the accounting equation (Assets = Liabilities + Owner's Equity), you can rearrange it to calculate the missing amounts