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Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 31, 20Y2, Captivating Inc. has assets of $6,150,000 and liabilities
Captivating Inc. is a motivational consulting business. At the end of its accounting period, May 31, 20Y2, Captivating Inc. has assets of $6,150,000 and liabilities of $1,050,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of May 31, 20Y2. b. Stockholders' equity as of May 31, 20Y3, assuming that assets increased by $550,000 and liabilities increased by $250,000 during 20Y3. x c. Stockholders' equity as of May 31, 20Y3, assuming that assets decreased by $450,000 and liabilities increased by $130,000 during 20Y3. x d. Stockholders' equity as of May 31, 20Y3, assuming that assets increased by $440,000 and liabilities decreased by $50,000 during 20Y3. $ x e. Net income (or net loss) during 20Y3, assuming that as of May 31, 20Y3, assets were $7,250,000, liabilities were $1,600,000, and no additional common stock was issued or dividends paid
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