Below is the balance sheet for Glucose Control Company as of Dec. 31, 2019. The company reported an annual net income of $88,000 for the following year, 2020, and did not change its assets or liabilities, unless otherwise noted.

Assets			Liabilities and Equity
Cash	14,000		Accounts payable	16,000
Marketable securities	2,000		Notes payable	6,000
Accounts receivable	4,000		Current liabilities	22,000
Inventory	35,000		Long-term debt	95,000
Current assets	55,000		Total liabilities	117,000
Machines	34,000		Paid-in capital	20,000
Real estate	80,000		Retained earnings	32,000
Net fixed assets	114,000		Total equity	52,000
Total assets	169,000		Total liab. & equity	169,000

Part 1: If the company distributed its entire net income as dividends, what would be the value of total equity on Dec. 31, 2020?

Part 2: If the company distributed half of its net income as dividends and used the rest to invest in new machines, what would be the amount of Total equity on Dec. 31, 2020?