Answer the following questions. Hint: Use the accounting equation.

a$.$ On January $1,$ Lumia Company's liabilities are $$60,000$ and its equity is $$40,000.$ On January $3,$ Lumia purchases and installs solar panel assets costing $$10,000.$ For the panels, Lumia pays $$4,000$ cash and promises to pay the remaining $$6,000$ in six months. What is the total of Lumia's assets after the solar panel purchase?

b$.$ On March $1,$ ABX Company's assets are $$100,000$ and its liabilities are $$30,000.$ On March $5,$ ABX is fined $$15,000$ for failing emission standards. ABX immediately pays the fine in cash. After the fine is paid, what is the amount of equity for ABx $?$

c$.$ On August $1,$ Lola Company's assets are $$30,000$ and its liabilities are $$10,000.$ On August $4,$ Lola issues a sustainability report. On August $5,$ ownership invests $$3,000$ cash and $$7,000$ of equipment in Lola. After the investment, what is the amount of equity for Lola?

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Required A

On January $1,$ Lumia Company's liabilities are $$60,000$ and its equity is $$40,000.$ On January $3,$ Lumia purchases and installs solar panel assets costing $$10,000.$ For the panels, Lumia pays $$4,000$ cash and promises to pay the remaining $$6,000$ in six month. What is the total of Lumia's assets after the solar panel purchase?

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