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Inspiration Inc. is a motivation consulting business. At the end of its accounting period, October 31, 2012, Inspiration has assets of $591,460 and liabilities of
Inspiration Inc. is a motivation consulting business. At the end of its accounting period, October 31, 2012, Inspiration has assets of $591,460 and liabilities of $186,900. Using the accounting equation and considering each case independently, determine the followimg amounts:
a. Stockholders equity as October 31, 2012
$______
b. Stockholders equity as of October 31, 2013, assuming that assets incresed by $93,450 and liabilities increased by $56,190 during 2013.
$______
c. Stockholders equity as of October 31, 2013, assuming that asset decreased by $46,730 and liabilities increased 16,560 during 2013.
$______
d. Stockholders equity as of October, 2013, assuming that asset increased by $78,070 and liabilities decreased by 29,570 during 2013.
$_____
e. Net income (or net loss) during 2013, assuming that as of October 31, 2013 asset were $745,240, liabities were $121, 250, and no additional common stock was issued or dividends paid
______? $_______
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