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Dave Ryan is the CEO of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of $651,740 and liabilities
Dave Ryan is the CEO of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of $651,740 and liabilities of $222,860. Using the accounting equation, determine the following amounts:
a. Stockholders' equity as of December 31 of the current year. $_______
b. Stockholders' equity as of December 31 at the end of the next year, assuming that assets increased by $83,470 and liabilities increased by $18,630 during the year. $______
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