Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $5,850,000 and liabilities of $2,500,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

Using the accounting equation and considering each case independently, determine the following amounts. Round your answers to the nearest dollar.

1. Stockholders equity as of October 31, 20Y2.

   $ fill in the blank 2

2. Stockholders equity as of October 31, 20Y3, assuming that assets increased by $850,000 and liabilities increased by $300,000 during 20Y3.

   $ fill in the blank 3

3. Stockholders equity as of October 31, 20Y3, assuming that assets decreased by $500,000 and liabilities increased by $100,000 during 20Y3.

   $ fill in the blank 4

4. Stockholders equity as of October 31, 20Y3, assuming that assets increased by $500,000 and liabilities decreased by $60,000 during 20Y3.

   $ fill in the blank 5

5. Net income (or net loss) during 20Y3, assuming that as of October 31, 20Y3, assets were $6,350,000, liabilities were $1,650,000, and no additional common stock was issued or dividends paid.

   $ fill in the blank 7