CO Accounting Equation Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 2012, Inspirational has assets of $5,250,000 and liabilities of $1,600,000. Using the accounting equation and considering each case independently, determine the following amounts: a. Stockholders' equity as of October 31, 2012. 3,650,000 b. Stockholders' equity as of October 31, 2013, assuming that assets increased by $800,000 and labilities increased by $330,000 during 2013. 4,120,000 c. Stockholders' equity as of October 31, 2013, assuming that assets decreased by $600,000 and abilities increased by $140,000 during 2013. 2,910,000 d. Stockholders' equity as of October 31, 2013, assuming that assets increased by $440,000 and liabilities decreased by $90,000 during 2013. 4,180,000 e. Net income (or net loss) during 2013, assuming that as of October 31, 2013, assets were $6,140,000, abilities were $1,950,000, and no additional common stock was issued or dividends paid. Net income Feedback Check My Wa If you know two figures for the accounting equation (Assets Liabilities +Stockholders' Equity), you can rearrange it to calculate the missing amounts Check My Work All work saved Previous Next>