John Joos is the owner and operator of Personality Shine LLC, a motivational consulting business. At the end of its accounting period, December 31, 2013, Personality Shine has assets of $740,000 and liabilities of $178,000. Using the accounting equation, determine the following amounts:

a. Owner's equity as of December 31, 2013. $

b. Owner's equity as of December 31, 2014, assuming that assets increased by $141,000 and liabilities increased by $43,000 during 2014. $