Kingston Company reported total assets of $15 million and total liabilities of $3 million at the end of 200. Requirements 1. Construct the balance sheet equation for Kingston Company at the end of 20X0 and include the correct amount for owners' equity. 2. Suppose that during January 20X1 Kingston borrowed $8 million from Wells Fargo Bank. How would this affect Kingston's assets, liabilities, and owners' equity? Requirement 1. Construct the balance sheet equation for Kingston Company at the end of 200 and include the correc amount for owners' equity. Begin by selecting the labels of the balance sheet equation to solve for the owners' equity at the end of 200. You will need to rearrange the balance sheet equation to solve for the missing amount. Requirement 2. Suppose that during January 20X1 Kingston borrowed $8 million from Wells Fargo Bank. How would this affect Kingston's assets, liabilities, and owners' equity