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Jan Petri is the stockholder and operator of You're A Star LLC, a motivational consulting business. At the end of its accounting period, December 31,
Jan Petri is the stockholder and operator of You're A Star LLC, a motivational consulting business. At the end of its accounting period, December 31, 2017, You're A Star has assets of $891,000 and liabilities of $214,000. Using the accounting equation, determine the following amounts:
a. Stockholders' equity as of December 31, 2017.
b. Stockholders' equity as of December 31, 2018, assuming that assets increased by $169,000 and liabilities increased by $51,000 during 2018.
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