Kenmore Handyman Services has total assets for the year of $13,500 and total liabilities of $10,500. Requirements 1. Use the accounting equation to solve for equity. 2. If next year's assets increased by $4,000 and equity decreased by $2,700, 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.