Kim Hsu is the owner of Hsus Financial Services. At the end of its accounting period, December 31, 2013, Hsus has assets of $775,000 and owners equity of $365,000. Using the accounting equation and considering each cased independently, determine the following amounts. a. Hsus liabilities as of December 31, 2013. b. Hsus liabilities as of December 31, 2014, assuming that assets increased by $70,000 and owners equity decreased by $25,000. c. Net income or net loss during 2014, assuming that as of December 31, 2014, assets were $692,000, liabilities were $590,000, and there were no additional investments or withdrawals.