Dave Ryan is the owner and operator of Ryan's Arcade. At the end of its accounting period, December $31,$ Ryan's Arcade has assets of $$450,000$ and liabilities of $$125,000.$ Using the accounting equation, determine the following amounts:

$($a$)$ owner's equity as of December $31$ of the current year

$($b$)$ owner's equity as of December $31$ at the end of the next year, assuming that assets increased by $$65,000$ and liabilities increased by $$35,000$ during the year

Krammer Company has liabilities equal to one$-$fourth of the total assets. Krammer's owner's equity is $$45,000.$ Using the accounting equation, what is the amount of liabilities for Krammer?

Use the accounting equation to answer each of the following independent questions.

$($a$)$ At the beginning of the year, Norton Company's assets were $$75,000$ and its owner's equity was $$38,000.$ During the year, assets increased by $$18,000$ and liabilities increased by $$4,000.$ What was the owner's equity at the end of the year?

$($b$)$ At the beginning of the year, Turpin Industries had liabilities of $$44,000$ and owner's equity of $$66,000.$ If assets increased by $$10,000$ and liabilities decreased by $$5,000,$ what was the owner's equity at the end of the year?

The accountant for Scott Industries prepared the following list of accounting equation element balances from the company's records for the year ended December $31$:

$\backslash$table$[[$Fees earned,$$165,000,$Cash,$$30,000$