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 $638,400 and liabilities of $233,040. Using the accounting equation, determine the following amounts:

a. Owner's equity as of December 31 of the current year.

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b. Owner's equity as of December 31 at the end of the next year, assuming that assets increased by $83,810 and liabilities increased by $17,510 during the year.

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