Accounting Equation Shannon Cook is the stockholder and operator of Galaxy LLC, a motivational consulting business. At the end of its accounting period, December 31, 2012, Galaxy has assets of $595,000 and liabilities of $143,000. Using the accounting equation, determine the following amounts: a. Stockholders' equity as of December 31, 2012. b. Stockholders' equity as of December 31, 2013, assuming that assets decreased by $113,000 and abilities decreased by $34,000 during 2013.