Kenmore Handyman Services has total assets for the year of $$18,400$ and total liabilities of $$8,160.$

Requirements

Use the accounting equation to solve for equity.

If next year's assets increased by $$3,800$ and equity decreased by $$1,650,$ what would be the amount of total liabilities for Kenmore Handyman Services?

Requirement $1.$ Use the accounting equation to solve for equity.

Begin by solving for the accounting equation. Then use the formula to solve for equity.

The company has equity of

Requirement $2.$ If next year's assets increased by $$3,800$ and equity decreased by $$1,650,$ what would be the amount of total liabilities for Kenmore Handyman Services?

The company has liabilities of