Accounting Equation

Sid Summitt is the stockholder and operator of You're A Star LLC, a motivational consultingbusiness. At the end of itsaccountingperiod, December 31, 20Y2, You're A Star hasassetsof $700,000 andliabilitiesof $168,000. Using the accounting equation, determine the following amounts:

a.Stockholders' equityas of December 31, 20Y2.

$

b.Stockholders' equity as of December 31, 20Y3, assuming that assets decreased by $133,000 and liabilities decreased by $40,000 during 20Y3.

$