Lynn Shackelford is the owner and operator of Our Idol LLC, a motivational consulting business. At the end of the accounting period, December 31, 2017, Our Idol had assets of $695,000 and liabilities of $167,000. Using the accounting equation, determine the following amounts:

a. Stockholders' equity as of December 31, 2017

b. Stockholders' equity as of December 31, 2018 assuming the assets increased by $132,000 and liabilities increased by $40,000, during 2018.