At the end of its accounting period, December 31, of Year 1, Hsu's Financial Services has...

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At the end of its accounting period, December 31, of Year 1, Hsu's Financial Services has assets of $575,000 and stockholders' equity of $335,000. Using the accounting equation and considering each case independently, determine the following amounts a. Hu's abilities as of December 31, of Year 1. b. He's abilities as of December 31, of Year 3, assuming that assets increased by $56,000 and shareholders' equity decreased by $32,000. Net income or net loss during Year 2, assuming that as of December 31, Year 2, assets were $592,000, abilities were $450,000, and there were no additional investments or dividends At the end of its accounting period, December 31, of Year 1, Hsu's Financial Services has assets of $575,000 and stockholders' equity of $335,000. Using the accounting equation and considering each case independently, determine the following amounts a. Hu's abilities as of December 31, of Year 1. b. He's abilities as of December 31, of Year 3, assuming that assets increased by $56,000 and shareholders' equity decreased by $32,000. Net income or net loss during Year 2, assuming that as of December 31, Year 2, assets were $592,000, abilities were $450,000, and there were no additional investments or dividends