Handyman Services has total assets of $ $12$ comma $500$$$12,500$ and total liabilities of $ $8$ comma $240$$$8,240.$

Requirements

$1.$

Use the accounting equation to solve for equity.

$2.$

If assets increase by $ $3$ comma $200$$$3,200$ and equity decrease by $ $1$ comma $890$$$1,890$ during the next$$ year, what would be the amount of total liabilities for BennettBennett Handyman$$ Services?